Zuckerberg's Donation To Newark Schools Spurs $43 Million In Matching Gifts

Facebook CEO Mark Zuckerberg is known for influencing others to join a movement. And that's exactly what he's done for the Newark school system.

Donors have contributed $43 million toward matching Zuckerberg's $100-million gift he gave to the city's troubled school system last fall, Newark Mayor Cory Booker tells the Star-Ledger.

Until last week, Booker hadn't disclosed the contribution amounts.

The big reveal comes days after questions arose among the school community and legislators about details of the charitable gifts. The Star-Ledger obtained documents last week indicating a reform plan that includes a large expansion of controversial charter schools.

Booker has vowed to get more philanthropic donations for the school system to meet its goal of duplicating Zuckerberg's gift, CNBC reports.

"I still remain confident that I'll be able to match it," Booker said.

The donations so far include:

• $25 million from New York investor William Ackman, head of the Pershing Square Foundation
• $10 million from venture capitalist John Doerr, a founder of the NewSchools Venture Fund
• $5 million from Elizabeth and Ravenel Curry, founders of the New York investment firm Eagle Capital Management
• $3 million from the Bill and Melinda Gates Foundation

Comments

[raechel]

12:45 PM on 03/04/2011

I love that the money to improve education for our kids is coming from the private sector (well, foundations that are funded by the private sector), and not from the already-overwhelmed middle class and poor taxpayers. I am also happy that these organizations appreciate the value of an educated citizenry. Boehner certainly doesn't.

[thegreenhornet]

11:03 AM on 03/02/2011

Just watched the movie about Zuckerberg last night. Itbstrucknnebthatvhebwas basically a very decent and brilliant guy who had serious flaws in interpersonal skills, but not morals. Glad to SE him doing good things with his wealth.

[am10]

07:53 AM on 03/02/2011

Be interesting to see if this pans out. Newark already gets a huge amount of money from the state and it hasn't stopped incorrigible parents from evading their responsibilities.

[Dreamofflowers]

10:59 PM on 03/01/2011

Why are we giving all this money to uncharted charter schools? They are not better, and they are unproven.

[OliverTwist]

09:41 PM on 03/01/2011

It's a celebrity thing.

The teachers will be teaching whatever the celebrities are doing and however much they pat themselves on the back for their wonderful efforts.

[johndoewasthere]

08:56 PM on 03/01/2011

He stole the idea for facebook, then they steal your information and sell it. I do not have a facebook account.

[iowahospitalist]

12:24 PM on 03/02/2011

Facebook gave egypt democracy. And u dont have ur bank account details in facebook. Selling information is overated, i am a physician i dont care about people knowing if i am ingle or not what am doing and stuff as long as it doesnt involve my bank acct details

[Kuuba]

11:33 PM on 03/16/2011

No, the ppl gave it to themselves.

[changing]

08:37 PM on 03/01/2011

The plutocracy taking over the schools. Suggest they pay their taxes. Understand Newark actually has a lot of taxes. If they want to donate how about sending the money to Wisconsin to pay the public employees? How about sending it to Head Start and the reading programs the Congress just cut? Better yet, how about sending it to Detroit so poor kids won't have to rent gymnasiums to go to class.
If they have this much money to give then they have too damn much money while others have too damn little.