Facebook CEO to Donate $100 Million to Newark Schools

September 24, 2010  |  

(Black Web 2.0) –Facebook CEO Mark Zuckerberg is set to donate $100 million to the Newark school system. This could bring in a total donation of $200 million as Newark’s mayor, Cory Booker, has been working on raising another $100 million from private foundations and others.

Zuckerberg is setting up a foundation with $100 million in Facebook stock to be used to improve education in America, with the focus being on Newark. The potential donation would amount to over 20% of Newark’s budget of $940 million.

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