Zuckerberg donates $3.5 Billion to Charity

FaceBook founder Mark Zuckerberg is at age 26 (!) one of the world’s youngest billionaires, but he iss not keeping it all for himself. By signing on to Bill Gates and Warren Buffet’s initiative called the “Giving Pledge,” Zuckerberg agreed to give most of his wealth to charity. Mark also donated an undisclosed amount to the open social network project Diaspora as well as $100 million to Newark Public Schools. He spoke about the Newark donation on the Oprah show , explaining his dedication to help fix the public school system.

The Giving Pledge, however, is a completely different ball game. Along with 57 other multi-millionaire and billionaire families and individuals, including Warren Buffet, Bill Gates, Paul Allen and Carl Icahn, by signing the pledge Mark Zuckerberg promised to give more than half of his wealth to charity, either during his lifetime or after his death.

“People wait until late in their career to give back. But why wait when there is so much to be done? With a generation of younger folks who have thrived on the success of their companies, there is a big opportunity for many of us to give back earlier in our lifetime and see the impact of our philanthropic efforts,” said Facebook co-founder and CEO Mark Zuckerberg in a statement.

According to Forbes’ estimate, Mark Zuckerberg is worth $6.9 billion, which makes him the 35th most wealthy Americans. Although many consider him to be the world’s youngest billionaire, he recently lost that title to Facebook co-founder Dustin Moskovitz, who is only eight days younger than him and whose worth is currently estimated at $1.4 billion.

Facebook is a social network service and website launched in February 2004 that is operated and privately owned by Facebook, Inc.

As of July 2010 Facebook has more than 500 million active users, Users may create a personal profile, add other users as friends and exchange messages, including automatic notifications when they update their profile. Additionally, users may join common interest user groups, organized by workplace, school, or college, or other characteristics. The name of the service stems from the colloquial name for the book given to students at the start of the academic

year by university administrations in the US with the intention of helping students to get to know each other better. Facebook allows anyone who declares themselves to be at least 13 years old to become a registered user of the website.

Facebook was founded by Mark Zuckerberg with his college roommates and fellow computer science students Eduardo Saverin, Dustin Moskovitz and Chris Hughes. The website’s membership was initially limited by the founders to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and Stanford University. It gradually added support for students at various other universities before opening to high school students, and, finally, to anyone aged 13 and over.
A January 2009 Compete.com study ranked Facebook as the most used social network by worldwide monthly active users, followed by MySpace. Entertainment Weekly put it on its end-of-the-decade “best-of” list, saying, “How on earth did we stalk our exes, remember our co-workers’ birthdays, bug our friends, and play a rousing game of Scrabulous before Facebook?” Quantcast estimates Facebook has 135.1 million monthly unique U.S. visitors.