Facebook’s Zuckerberg signs Giving Pledge; commits to give away majority of wealth

By on December 9, 2010 at 10:45 AM.

Facebook’s Zuckerberg signs Giving Pledge; commits to give away majority of wealth

The Wall Street Journal is reporting that Facebook founder and CEO, Mark Zuckerberg, has signed the Giving Pledge, committing to donate the majority of his fortune to charitable organizations. The Pledge, which asks its signers to give away the lion’s share of their wealth during their lifetime, was organized by Microsoft founder Bill Gates and Wall Street mogul Warren Buffet. Other notable signatories of the pact include: Oracle CEO Larry Ellison, New York mayor Michael Bloomberg, AOL co-founder Steve Case, and film director George Lucas.

Mr. Zuckerberg, who has been quoted as saying wealth is both an “advantage” and a “responsibility,” made his first sizable donation of $100 million to New Jersey’s Newark Public School system this past September. “There’s so much that needs to be done, it would be better to start now,” said the CEO in a prepared video.

Although his company’s valuation is based on a future IPO, Mr. Zuckerberg’s net worth is estimated at $6.9 billion. More →

39 Comments

Facebook's Zuckerberg worth $6.9 billion, passes Apple's Jobs on Forbes 400 list

By on September 23, 2010 at 8:20 AM.

Facebook's Zuckerberg worth $6.9 billion, passes Apple's Jobs on Forbes 400 list

We do wonder what it is like to be 26 years old and have a net worth of $6.9 billion. Seems like a pretty awesome problem to have. Forbes is reporting that Facebook founder and CEO Mark Zuckerberg is now ranked thirty-fifth on the Forbes 400 list; a list that details the richest Americans. One notable tech persona that Mr. Zuckerberg leapfrogged is Apple CEO Steve Jobs. Mr. Jobs is currently ranked forty-second on the list with an estimated net-worth of $6.1 billion. The young, social-networking tycoon isn’t just hoarding his cash though. The Wall Street Journal is reporting that the Facebook CEO is expected to announce a $100 million donation to the Newark Public School System. Currently the Newark, NJ system is the lowest performing system in the country; only half of its 40,000 students graduate high school. Nice work Mr. Zuckerburg, we’ll hit the proverbial “like” button for your charitable works. More →

60 Comments