Newark Schools to Receive $100 Mil from Facebook CEO

Published: September 24th 2010
in News » World

Facebook CEO Mark Zuckerberg
Pic: wikipedia commons

Mark Zuckerberg, the notoriously private founder and CEO of the most social site in the world, Facebook, is donating $100 million to the Newark public school system.  Zuckerberg will announce the donation this Friday on the Oprah Winfrey Show, and will be joined by Newark Mayor Cory A. Booker and New Jersey Governor Chris Christie.  


The story broke shortly after Forbes revealed that Zuckerberg’s estimated net worth is $6.9 billion, which positions him at 35th on the list of wealthiest Americans.  This donation announcement, unsurprisingly, coincides with the release of The Social Network on October 1st, a film loosely based on the founding of Facebook which reports state puts Zuckerberg in a very negative light. 


While there has been speculation that Facebook will issue an IPO, the company is currently private.  Forbes has valued Facebook at $23 billion, which puts it ahead of Dell, Starbucks, Yahoo, eBay and RIM.  Zuckerberg, who very famously turned down a $1 billion offer from Terry Semel, former CEO of Yahoo!, is looking every bit the genius he’s been marketed as, and with this donation, he’s placed himself with the likes of Bill Gates as the biggest philanthropists in the U.S. 

Related articles: (Facebook, Oprah, Social Network, social networking, BIll Gates, Forbes)

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