Sen. Sessions Challenges Zuckerberg: 'Hire American Workers For A Change'

[Agschmid]

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Zuckerberg and his wife, both 29, led the way in 2013 by transferring 18 million shares of Facebook stock, worth about $990 million, to a charitable fund administered by the Silicon Valley Community Foundation. The Mountain View-based foundation, which operates similar funds for a number of wealthy individuals, typically allocates the money according to the donor's instructions or helps find recipients working on issues that are important to the donor.

It was the second such gift from Zuckerberg and Chan. They also transferred 18 million Facebook shares to the foundation in 2012. At the time, that first gift was valued at $500 million, but its value has almost doubled as Facebook's share price has soared over the last year.

Foundation officials, citing donor privacy, have declined to say exactly how the money will be used, although Zuckerberg and Chan have said they want to focus on education and health. In a recent donation, the foundation channeled $5 million from the couple to the Ravenswood Family Health Center, which serves low-income families in East Palo Alto and neighboring cities.

http://www.mercurynews.com/business/ci_25107266/facebook-ceo-mark-zuckerberg-wife-donor-charity-givers