Facebook donates $100 Million to Newark Public Schools

CEO and founder of Facebook, Mark Zuckerberg, has agreed to donate $100 million dollars to the Newark public school system, reports The New York Times.

Facebook donates $100 million to Newark public schools

New Jersey Gov. Chris Christie will reportedly cede some control of the state-run system to Mayor Cory A. Booker in conjunction with the huge gift, The New York Times’s Richard Perez-Pena reports.

The three men plan on making the announcement on Oprah on Friday.

Mr. Zuckerberg, who grew up in Westchester County, New York , has no connection to Newark. However, met Mayor Cory Booker at a conference and talked about his plans for the city.

The $100 million for Newark is the initial gift to start a foundation for education financed by Mr. Zuckerberg. This would be by far the largest publicly known gift by Mr. Zuckerberg, whose fortune Forbes magazine estimated last year at $2 billion.