September 28, 2010

From Young Mogul, a Gift on the Scale of Philanthropy’s Elders

Posted in Philanthropy at 2:53 pm by philanthropynews


PALO ALTO — Mark Zuckerberg, America’s youngest billionaire at 26, has not spent much money on himself. Forbes estimates his fortune at $6.9 billion, but Mr. Zuckerberg, chief executive of Facebook, has yet to sell any sizable portion of his holdings in the company.

He rents an unremarkable house within walking distance of Facebook’s headquarters here. He favors jeans and T-shirts, drives an Acura and, unlike many other technology moguls, does not own a private plane.

On Friday, Mr. Zuckerberg announced his biggest expenditure to date: a $100 million grant aimed at improving public education in Newark, in partnership with Cory A. Booker, the city’s mayor, and Chris Christie, New Jersey’s governor.

(Read more via New York Times.)

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