Facebook CEO unveils foundation, $100M donation

Zuckerberg making friends with more than 40,000 students in Newark, N.J.

Following a day of frenzied reports about an upcoming $100 million donation to a struggling school system , Facebook founder and CEO Mark Zuckerberg announced Friday the creation of a new foundation called Startup: Education.

Zuckerberg is seeding the foundation with the initial gift of $100 million to the Newark, N.J. school system. Zuckerberg is scheduled to announce his donation later today on the Oprah Winfrey Show.

And the Facebook founder isn t alone in his efforts. This morning, Newark Mayor Cory A. Booker announced the creation of the Newark Education and Youth Development Fund, a separate non-profit organization with the goal of raising an additional $100 million to gain the challenge grant offered by Zuckerberg s foundation, as well as an additional $50 million to serve disaffected youth.

I feel very fortunate for the opportunities I've been given because of my education, including the chance to work with talented people and build a great company at such a young age, Zuckerberg said in a blog post. Rather than waiting until later in life to focus on giving back, I've spent a lot of the last year researching and looking for the most impactful ways to improve education starting in America.

Zuckerberg added that he decided to put his full support behind Booker and New Jersey Gov. Chris Christie to help in their efforts to reform the schools in Newark.

Newark has unfortunately become a symbol of public education's failure -- of a status quo that accepts schools that don't succeed, he wrote. In 2009, only 40% of kids could read and write at grade level by the end of third grade, only 54% of high school students graduated and just 38% enrolled in college. Going to a school with boarded up windows and broken glass should not be a part of our education experience.

The plan to get Newark s schools back on their feet include the installation of a new school superintendent, and the creation of a new education plan that includes rewarding excellence in teaching and student achievement, according to Zuckerberg.

While the $100 million donation should help the more than 40,000 students in Newark, it s also expected to do some good for Zuckerberg s tarnished image .

In recent months, Facebook has taken a verbal beating from users angered and frustrated over the site's privacy policies and tools. And in the past month, instant messages that Zuckerberg has since admitted sending while he was in college have come to light, giving users an image of a young man a bit drunk on power and cavalier with users' privacy.

And on top of all of that, the movie The Social Network is set to be released on Oct. 1, detailing the creation of Facebook and Zuckerberg s rise to fame and fortune. According to published reports, the movie doesn t exactly paint the Facebook founder in an entirely positive light.

Industry analysts have noted that Zuckerberg s massive donation, along with an appearance with the incredibly popular Winfrey later today, may be a good shot in the arm for his image& and for the social networking site behind him.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags IT industryFacebookWeb 2.0 and Web AppsGovernment/Industries

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Sharon Gaudin

Sharon Gaudin

Computerworld (US)
Show Comments

Essentials

Brother MFC-L3745CDW Colour Laser Multifunction

Learn more >

Mobile

Exec

Sony WH-1000XM4 Wireless Noise Cancelling Headphones

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?