On Tuesday, Mark Zuckerberg founder & CEO of Facebook, informed that he will donate $500 million of his stocks to education and health causes.
The Silicon Valley Community Foundation, an organization that manages philanthropic donations.
Recently, they received 18 million shares of Facebook stock for a valuation of just under $500 million.
Zuckerberg’s contribution to Newark is managed by a local nonprofit, the Foundation for Newark’s Future.
The money is only unlocked if matching private funds are raised, and there are specific focus areas where the money can be spent.
The donation has created new schools and teacher programs but sparked concern that it is part of an effort to privatize the district.