Mark Zuckerberg donates $500 million to health and education causes in his largest donation to date

Facebook CEO Mark Zuckerberg has donated nearly $500 million in stock to a Silicon Valley charity, his largest donation to date that also breaks the largest single philanthropic donation to education this year.



Zuckerberg announced his generous donation on his Facebook page on Tuesday while since signing over 18 million Facebook shares valued at $498.8 million based on their Tuesday closing price.

Beneficiary Silicon Valley Community Foundation described themselves as ‘thrilled’ by the gift aimed at funding health and education issues. The non-profit which works with donors to allocate their gifts.

Generous: The 28-year-old Facebook founder and CEO Mark Zuckerberg, typically seen in hoodies and t-shirts, has donated approximately $500 million of stock to charity

'Two years ago, Priscilla and I signed The Giving Pledge, committing to donate the majority of the money we earn to charity,’ the 28-year-old wrote on his Facebook page on Tuesday.



‘Today, in order to lay the foundation for new projects, we've made a contribution of 18 million Facebook shares to the Silicon Valley Community Foundation. Together, we will look for areas in education and health to focus on next. I'm hopeful we'll be able to have as positive an impact in our next set of projects.'

In 2010 Zuckerberg, commonly seen wearing t-shirts and hoodies, pledged $100 million in Facebook stock to Newark, New Jersey, public schools before his company went public earlier this year.



Later in 2010, he joined Giving Pledge, an effort led by Microsoft Corp. founder Bill Gates and Berkshire Hathaway Inc. CEO Warren Buffett to get the country's richest people to donate most of their wealth. His wife, Priscilla Chan, joined with him.

Simple man: Earlier this year Zuckerberg married his girlfriend of nine years Priscilla Chan in a quiet ceremony at his home in Palo Alto

Upgrade: The billionaire purchased this five bedroom home after renting out a two-story house described by neighbors as 'absolutely average'

In his Facebook post Zuckerberg said he's 'proud of the work' done by the foundation that his Newark donation launched, called Startup: Education, which has helped open charter schools, high schools and others.



He did not give further details on what plans there may be for the funds.



'Mark's generous gift will change lives and inspire others in Silicon Valley and around the globe to give back and make the world a better place,' said Emmett D. Carson, CEO of the foundation.



Zuckerberg, listed as number 25 on Forbes' list of most powerful people, has a reported wealth of approximately $14 billion after a decline from $17.5 billion following Facebook’s disappointing IPO.

Mortgaging: The front of Zuckerberg's new home is seen after the man with a reported wealth of approximately $14 billion took out a re-financed $5.95 million mortgage

Quiet time: It was at this house Zuckerberg held his wedding, presenting his bride with a described, simple ruby ring

Surprise: Staying low key, Zuckerberg surprised his wedding guests who believed they were there to celebrate Priscilla's graduation from her degree in pediatrics

Despite his over the years’ easy magnet to wealth, the 28-year-old has lived a largely simple life.



Earlier this year Zuckerberg took out a re-financed $5.95 million mortgage on a Palo Alto, California home after renting out a smaller two-story home in an area described as ‘absolutely average’ by neighbors.



On the lawn of his new five-bedroom home in May, Zuckerberg tied the knot with his then girlfriend of nine years, Priscilla, in a quiet ceremony where he presented her with a ‘very simple ruby’ ring, designed by Zuckerberg himself.

