Zuckerberg with Newark mayor Cory Booker. Flickr // Cory Booker Mark Zuckerberg announced today that he is donating 18 million Facebook shares (almost $500 million worth) to a philanthropic organization called the Silicon Valley Community Foundation.

His donation will be used for health and education projects.

Here's the full announcement from Zuckerberg's Facebook page:

Two years ago, Priscilla and I signed The Giving Pledge, committing to donate the majority of the money we earn to charity.



Our first major project has been around education reform with Startup: Education in Newark, NJ. I'm really proud of the work we've done there, helping leaders like Governor Chris Christie and Mayor Cory Booker sign the most progressive teachers contract in our country, opening four new district high schools, 11 new charter schools and more.



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.