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!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags governmentIT 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

Computerworld (US)
Show Comments

Cool Tech

Breitling Superocean Heritage Chronographe 44

Learn more >

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?