30-year-old Mark Zuckerberg is one of the world’s youngest billionaires. While attending Harvard, Zuckerberg got his foothold co-founding the social-networking site, Facebook. Now CEO of Facebook, he is also a philanthropist.
Two instances of Zuckerberg’s philanthropy came in 2010 when he first gave Newark, New Jersey schools 100 million dollars. Later that year, he also signed what is known as the “Giving Pledge.” In 2010, the pledge was created by Warren Buffett and Bill and Melinda Gates. It is a voluntary promise designed for the world’s wealthiest individuals. Pledgers commit to donate at least half of of their wealth to philanthropy. Zuckerberg is among the 126 families today who have made the promise. In 2013, Zuckerberg and his wife, Priscilla Chan, set a record in philanthropy by giving one billion dollars worth of Facebook shares to the Silicon Valley Community Foundation. Zuckerberg seems to be holding up to his end of the pledge.
October 14, Zuckerberg announced via a Facebook post that he and Chan would be donating 25 million dollars to the U.S. Center for Disease Control and Prevention to aid in the response of Ebola. Spokespeople in the health industry have expressed their excitement with this contribution stating that it’s a big step in the right direction. Zuckerberg’s donation outspent the Ebola donations of whole countries including Canada, France, China, Germany and Britain. While Zuckerberg’s donation is generous, another tech goliath, Bill Gates donated $50 million earlier in the year to Ebola in West Africa. This year, Zuckerberg and his wife also gave $120 million to improve the Bay Area schools.
Many feel the wealthy have an obligation to give back. There is an index that tracks charity movements among the rich. According to the Wealth-X and Arton Capital Major Giving Index, the average billionaire will give $108 million to charity over their lifetime. Tech giant Zuckerberg donates over a hundred million dollars a year rather than over a course of a lifetime.
Why did Zuckerberg donate to Ebola? ”We need to get Ebola under control in the near term so that it doesn’t spread further and become a long term global health crisis that we end up fighting for decades at large scale, like HIV or polio,” he posted on Facebook. “We believe our grant is the quickest way to empower the CDC and the experts in this field to prevent this outcome.”