Facebook Founder Mark Zuckerberg Donating $100 Million To Newark Schools

The blogosphere’s billionaire man is putting his money — and lots of it — where his mouth is. Facebook founder Mark Zuckerberg is opening his wallet to make a substantial donation to one of the country worst performing public school districts. Hot on the heels of the release of a new unflattering film about the unsavory founding of one of the web’s leading social networking websites, Zuckerberg has just pledged to donate $100 million to public schools in Newark, New Jersey.

The donation is part of what will likely become an education foundation set up by the Harvard University dropout, who became the world’s youngest self-made billionaire after he founded Facebook in 2004. Mark will formally announce his contribution to education reform in The Garden State during an appearance on The Oprah Winfrey Show this Friday, Sept. 24.

According to The Washington Post: “Booker (Newark Mayor) and Facebook CEO Mark Zuckerberg met at a news conference in July. Less than three months later, the New York Times and Wall Street Journal report that Zuckerberg will be donating $100 million to the Newark school system….The money may be matched by money from private foundations that Booker has been working to raise. The combined $200 million dollars would amount to 20 percent of Newark’s budget of $940 million. The Newark school system has been in such decline that the state wrested control of it from the Newark government in 1995 and declared the school system a failure. The current New Jersey governor, Chris Christie, will not give control of the school system back to Newark, but will likely appoint Booker to a major role in the rejuvenation of the system….”

Visit msnbc.com for breaking news, world news, and news about the economy

About The Author