Billionaire Mark Zuckerberg, founder and CEO of Facebook, will be donating $100 million to the school district in Newark, New Jersey, to help improve the schools in the city.
This is the most money donated at one time by the man that Forbes magazine has named the 35th richest in the U.S. Though many wonder if the move is a way to boost his image before the movie ‘The Social Network’ releases. Even those who doubt the motives are clear that the significance of the donation is huge.
The new movie, which is a fictional account of the beginning of Facebook, casts Zuckerberg in a less than flattering light. That has led critics to say that the donation was made to battle that image.
The official announcement of the donation will be made on the Oprah Winfrey show on Friday.
Even those who doubt the motives behind the gift say that it will merit a positive response. Many believe it will inspire other technology entrepreneurs to give to education related causes..
In the past, when asked about giving back, Zuckerberg had said that Facebook wasn’t at that point yet, but maybe some day it would be. Apparently that ‘some day’ is here.
The Bill and Melinda Gates Foundation was the first foundation created by a technology billionaire to focus on education. Over the years the foundation has given billions to the education industry, along with health care and other causes.