Facebook Founder Pledges $100-Million for Newark Schools

Mark Zuckerberg, the billionaire founder and chief executive of the online social network Facebook, is donating $100-million to the troubled Newark, N.J., public school system, The New York Times and Wall Street Journal report.

The gift, equal to one-eighth of the Newark school district’s annual operating budget, is the first step toward a planned education foundation to be financed by Mr. Zuckerberg. He will join New Jersey Gov. Chris Christie and Newark Mayor Cory Booker to announce the donation on Friday’s Oprah Winfrey Show.

Mr. Zuckerberg, who grew up in suburban New York and now lives in California, met Mr. Booker at a conference in July and struck up a continuing conversation on the mayor’s plans for Newark, according to the Times. In conjunction with the gift, the state, which took over Newark schools in 1995, will return some control of the system to the city.

(Free registration is required to read this article.)

Previous coverage from The Chronicle: Facebook’s Founder Says Nonprofit Groups Can’t Change the World.