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Zuckerberg pledges $500 million of FB stock

20 Dec 2012

Mark Zuckerberg has donated half a billion dollars worth of his Facebook stock, receiving 170,000 'likes' on his official page.

The social networking founder has given Silicon Valley Community Foundation 18 million shares in his company, which amounts to just under US$500m.

Announcing the pledge on his official Facebook page, Zuckerberg said:

"Two years ago, Priscilla and I signed The Giving Pledge, committing to donate the majority of the money we earn to charity.

"Our first major project has been around education reform with Startup: Education in Newark, NJ.

"I'm really proud of the work we've done there, helping leaders like Governor Chris Christie and Mayor Cory Booker sign the most progressive teachers contract in our country, opening four new district high schools, 11 new charter schools and more.

"Today, in order to lay the foundation for new projects, we've made a contribution of 18 million Facebook shares to the Silicon Valley Community Foundation.

"Together, we will look for areas in education and health to focus on next.

"I'm hopeful we'll be able to have as positive an impact in our next set of projects."