Facebook CEO Mark Zuckerberg To Give $100 Million To Newark Schools

Posted by on Sep 23rd, 2010 and filed under Campus Updates, Featured. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

Being the youngest billionaire in the world today, Mark Zuckenberg is now trying his hand in philanthropy. The Chief Executive Officer and co-founder of the popular social networking site, Facebook, declared that he will donate $100 million to help the education system of the U.S., with particular attention on the beleaguered Newark Public Schools, the largest school district in New Jersey with about forty five thousand students.

Considered to be the lowest performing public school system in the state of New Jersey, the Newark Public Schools only graduates fifty percent of its high school students and in that percentile, only twenty five percent go to college.

The state government of New Jersey in a presumption that they can improve education took over the handling of the public school system from the city government of Newark in 1995 after the city asked the state government for help. Yet fifteen years had passed, and still the low graduation rate and low standardized test scores of the public school system are the worst in the state.

Zuckenberg, 26, hopes that his contribution will make improvements for the school system. He will use his own share of stocks on Facebook to fund his donation.

With twenty four percent shares of stocks (Net worth of $6.9 billion) in Facebook, the amount invested by Zuckerberg for his educational foundation is a very small price to pay considering the turnout of his good deed in the end.

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1 Response for “Facebook CEO Mark Zuckerberg To Give $100 Million To Newark Schools”

  1. Alexander A. Norman says:

    Dear Mr. Zuckerberg

    As a former student of the Newark School System

    I thank you in advance for your heartfelt gift to our

    children. But sir, I must insist that you also include

    a reliable third party to oversee the distribution of

    the funds to the children. As you must know Newark

    is filthy with corrupt officials that would accept your gift

    as nothing more than a huge piggy bank for their own

    greed. I am not familiar with the current board of

    education members, but judging from past boards that

    I am familiar with, I would not trust them with the

    responsibility of overseeing such a wonderful gesture.

    As a rule I would stay away from any career politician

    offering his help. Please implement your own people

    in key positions to absorb the shock of such a gift to a

    city as rift with corruption as Newark.

    You are very young…and idealistic and I thank you again for

    this gift to the children of Newark, but I sincerely and with the

    greatest respect ask that you make sure it gets to the intended

    people that you are trying to help.

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