Facebook CEO Pledges $100m. for New Education Foundation

Mark Zuckerberg, Facebook’s founder and CEO (and number 43 on the list of the Jewish Billionaires Club) has made his first known major philanthropic gift – $100 million to the troubled Newark, New Jersey, public school system.

from The New York Times:

Facebook Founder to Donate $100 Million to Help Remake Newark’s Schools

… The $100 million for Newark is the initial gift to start a foundation for education financed by Mr. Zuckerberg. This would be by far the largest publicly known gift by Mr. Zuckerberg, whose fortune Forbes magazine estimated last year at $2 billion.

… The gift is many times larger than any the system has received, officials said – an extraordinary sum not only for a district with an $800 million annual operating budget, but also for any publicly financed government agency. It is not yet clear how the money would be used, or over what period.