Zuckerberg Donates Facebook Shares Worth $214 Million to SVCF

Zuckerberg Donates Facebook Shares Worth $214 Million to SVCF

Facebook founder and CEO Mark Zuckerberg and his wife, physician Priscilla Chan, have donated shares in the company worth $214 million to the Silicon Valley Community FoundationForbes reports. 

According to a Securities and Exchange Commission filing published on Friday, Zuckerberg and Chan made the donation via the Chan Zuckerberg Initiative, their philanthropic, advocacy, and impact investing entity. CZI confirmed the $214 million donation to Forbes but declined to comment further. Many people who give to SVCF do so through a donor-advised fund, allowing them to retain control of how and when the funds are used. With their latest gift, Chan and Zuckerberg have given more than $1.96 billion to the foundation — all in the form of Facebook stock. 

The gift occurred the same day SVCF announced Nicole Taylor as its new president and CEO. Taylor, who will join the foundation from the ASU Foundation, spent more than fifteen years with the East Bay Community Foundation, serving as its president and CEO for six years. She will replace Emmett Carson, who was terminated as president and CEO in June in the wake of allegations that he had ignored the growth of a "toxic" workplace culture at the foundation as it amassed a multibillion-dollar endowment.