Facebook Founder to Donate Shares Worth Nearly $1 Billion to Charity

Facebook Founder to Donate Shares Worth Nearly $1 Billion to Charity

Facebook founder and CEO Mark Zuckerberg plans to donate eighteen million shares of Facebook stock — worth about $990 million — to the Silicon Valley Community Foundation, the Wall Street Journal reports.

Last December, Zuckerberg donated eighteen million shares of Facebook stock — worth some $500 million at the time — to the foundation, which funds local nonprofits working in a broad range of areas. Business Insider reports that a portion of Zuckerberg’s latest gift will be allocated to Zuckerberg’s own charitable foundation at SVCF and to the Breakthrough Prize in Life Science, which announced the launch of a new $3 million prize in mathematics earlier this month.

Zuckerberg's latest gift to SVCF was announced in conjunction with an announcement by the company that, in connection with its addition to the S&P 500 Index after markets close December 20, it will offer nearly seventy million shares, worth almost $4 billion, to the public .

"Facebook, Zuckerberg to Sell Stock." Wall Street Journal 12/19/2013. "Mark Zuckerberg Just Gave $990 Million to Charity." Business Insider 12/19/2013.