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Thursday 20 December 2012

Facebook CEO Zuckerberg donates $500 thousand in stock to charity.

It is quite the Christmas gift. Facebook's CEO Mark Zuckerberg says he is now donating nearly $500 million within company stock to charity in order to promote education and health endeavours.

A Facebook spokesperson confirmed in order to NBC News the gift involving 18 million shares valued with their Tuesday closing price involving $498, 780, 000. The sum was announced by Zuckerberg via some sort of status update on his Facebook page on Tuesday. The recipient may be the nonprofit Silicon Valley Community Base, which helps donors manage and identify charitable funds that are in accordance with their philanthropic passions.

This present for now is Zuckerberg's biggest ever. Before Facebook went public in 2010, he gave $100 million within company stock to Newark, N. J., public school districts. That will be the same year, he signed The actual Giving Pledge, an effort guided by Microsoft founder Bill Throughways and investor Warren Buffett, the spot that the world's wealthiest individuals commit to handing out most of their fortunes to charitable efforts.

In the status update, Zuckerberg wrote that the donation was " in order to lay the foundation for new projects" understanding that he is "hopeful we'll have the ability to have as positive an impact in this next set of projects. "



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