San Francisco: Facebook CEO Mark Zuckerberg has made his largest ever charity donation by deciding to donate nearly USD 500 million in stock to a Silicon Valley charity.
The donation is aimed at focusing on health and education issues.
The gift of 18 million Facebook shares is valued at USD 498.8 million based on their closing stock price yesterday, when Zuckerberg, 28, made the donation. The beneficiary is the Silicon Valley Community Foundation, a nonprofit that works with donors to allocate their gifts.
He pledged USD 100 million in Facebook stock to Newark, New Jersey, public schools in 2010, before his company went public earlier this year.
Later in 2010, he joined Giving Pledge, an effort led by Microsoft founder Bill Gates and investor Warren Buffett to get the richest Americans to donate most of their wealth.
With Agency Inputs
First Published: Wednesday, December 19, 2012, 10:49