DOBBS FERRY, N.Y. — Dobbs Ferry native and Facebook CEO Mark Zuckerberg announced via Facebook on Tuesday that he and his wife, Priscilla Chan, have donated 18 million shares of his company's stock worth nearly $500 million to the Silicon Valley Community Foundation.
"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, N.J.," Zuckerberg said in his post.
"I'm really proud of the work we've done there, helping leaders like Gov. 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."
Facebook stock was selling for $27 a share at the time of this post, and Zuckerberg and Chan's donation was worth slightly less than $500 million, the Facebook founder's largest charitable donation yet. They plan to look for "areas in education and health to focus on next," Zuckerberg said in his Facebook post.
Zuckerberg was worth more than $10 billion as of August and will take a salary of $1 per year starting next year.
"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," the Facebook post said.
Zuckerberg grew up in in Dobbs Ferry, attended Ardsley schools and married Priscilla Chan a week after the Facebook stock went public in May.