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Mark Zuckerberg Donates $100 Million to Newark Schools

23 Sep

Real billionaires aren’t conservatives…

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Facebook founder Mark Zuckerberg

Zuckerberg pledges $100m to Newark, N.J. schools

In his first major act of public philanthropy, Facebook CEO Mark Zuckerberg plans to donate $100 million to the public school system in Newark, N.J., a troubled and crime-ridden city across the Hudson River from New York. The formal announcement will reportedly come Friday on Oprah Winfrey’s talk show, where Zuckerberg will be joined by Newark Mayor Cory Booker and New Jersey Gov. Chris Christie, who will formally cede some control of the Newark school system to Booker’s municipal administration.
Zuckerberg’s reasons for choosing the Newark public school system are not completely clear; he hails from the New York City metro area, but the Times reported that his connection to Newark derives from having met and connected with Booker, a young, charismatic, and high-profile reform politician.

Forbes estimates that Zuckerberg is now worth $6.9 billion, putting him seven spots above Apple CEO Steve Jobs, who is estimated to be worth $6.1 billion, ranking 42 on Forbes’ list.

Facebook CEO to Donate $100 Million to Newark Schools

The potential donation would amount to over 20% of Newark’s budget of $940 million.

Newark spends about $22,000 a year on each of its 40,000 pupils, but only about half of its students graduate. Of those who do, only one-fifth go on to four-year colleges. More than 85% of the Newark students at community colleges need remedial help in math and English.

Foundations and wealthy investors have been recently donating large sums of money into education to make changes. The money usually comes in exchange for something like increased pay for teachers or measures to make sure teachers are effective.

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6 Comments

Posted by on September 23, 2010 in News, The Post-Racial Life

 

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6 responses to “Mark Zuckerberg Donates $100 Million to Newark Schools

  1. t-shirts101

    September 23, 2010 at 9:45 AM

    Zuckerburg is doing some preemptive public relations… the movie Social Network reportedly portrays Zuckerburg as an unethical a-hole. It’s feared that facebook’s value will be diminished once the movie is released.

    Like

     
    • btx3

      September 23, 2010 at 5:13 PM

      Oh, I agree! But it’s still better than the a-holes funding the Tea Baggers.

      Like

       
      • T-shorts101

        September 23, 2010 at 10:16 PM

        This is true. They have NO conscience.

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  2. brotherbrown

    September 23, 2010 at 10:51 PM

    I don’t think $100 million to a school system will matter. School performance correlates closely with parental involvement, at the micro and macro level. A parent can create the environment in the home, and all parents can set the tone at the school. Newark performance will improve under those circumstances, not simply more money.

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  3. nanakwame

    September 24, 2010 at 8:54 AM

    You bring up a great point BB. I do not think this man did for unselfish motives, either. Networking, hello. Now if they can get the brighter children to hook up with other bright chidren, from whereever, hmmm

    Like

     
  4. Norman

    October 14, 2013 at 3:13 PM

    We are appealing for financial help to build an Orphanage and a School.

    Like

     

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