November 26, 2014

Scrolling Headlines:

Students and staff discuss racial and social inequality following Ferguson decision -

Wednesday, November 26, 2014

UMass hockey falls to Vermont, 3-1 -

Wednesday, November 26, 2014

No indictment for Ferguson cop -

Tuesday, November 25, 2014

Chancellor addresses campus regarding grand jury decision in death of Michael Brown -

Tuesday, November 25, 2014

Northern Illinois hangs on against Ohio, Hunt carries Toledo to victory -

Tuesday, November 25, 2014

SGA passes 10 motions at meeting Monday night -

Tuesday, November 25, 2014

Students and UMPD work together during the annual ‘Walk for Light’ -

Tuesday, November 25, 2014

‘Conscious Consumer’ talk promotes business sustainability -

Tuesday, November 25, 2014

UMass hockey looks to rebound against Vermont following Saturday’s blowout at home -

Tuesday, November 25, 2014

UMass women’s soccer’s Sverrisdóttir balances a soccer career between two different countries -

Tuesday, November 25, 2014

‘First Demo’ provides a fascinating glimpse of Fugazi in its infancy -

Tuesday, November 25, 2014

My mental illness does define me (to an extent) -

Tuesday, November 25, 2014

How to master multitasking -

Tuesday, November 25, 2014

One Direction hints at newfound sophistication on ‘Four’ -

Tuesday, November 25, 2014

TV on the Radio sounds rejuvenated on ‘Seeds’ -

Tuesday, November 25, 2014

UMass men’s club soccer fundraises its way to Memphis -

Tuesday, November 25, 2014

UMass hockey takes accountability and seeks redemption against Vermont on Tuesday -

Tuesday, November 25, 2014

Large group of males tries to forcibly enter a Hobart apartment over the weekend -

Tuesday, November 25, 2014

UMass forward Zach Coleman excels in increased role against Florida State -

Monday, November 24, 2014

SLIDESHOW: Basketball Hall of Fame Tip-Off Tournament -

Monday, November 24, 2014

Facebook founder lends a hand

Courtesy of Facebook

Mark Zuckerberg, founder and CEO of the social networking site Facebook, has agreed to donate $100 million to help improve the public schools of Newark, N.J.

Test scores and graduation rates in Newark’s public schools are among the lowest in the state. The school district has approximately 39,000 students, and has been controlled by the state for 15 years, due to underperformance. The donation will allow Newark Mayor Cory A. Booker a larger role in running the schools.

Zuckerberg announced the donation Friday morning on “The Oprah Winfrey Show,” with New Jersey Gov. Chris Christie and Booker, as well as in a press conference on Friday. “I’m putting some of my Facebook stock into a foundation,” said Zuckerberg in the press conference.

“The foundation will then sell it off to raise cash, and then the cash will be used to fund the project, and the plan that the governor and the mayor are putting together, contingent on getting the results that we want to get and on getting the matching $100 million as well,” he added
According to the New York Times, Zuckerberg met Booker at a conference in July about the mayor’s plans for the city, and has been planning the donation since their initial meeting.  

The 26-year-old billionaire, who grew up in Westchester County, New York, currently resides in California. He has no personal connection to Newark. He is the 35th-richest American, according to Forbes magazine, which estimated his fortune at $6.9 billion in August – up $4.9 billion from last year. Zuckerberg said the donation was made to help provide others with the education he was given.

“I started Facebook when I was in college, at a great university,” said Zuckerberg, in an interview on Oprah. “And I have no doubt that if I hadn’t had that opportunity that I wouldn’t be sitting here today,” he added. Zuckerberg attended public school, then boarding school, and finally an Ivy League university.

Zuckerberg founded Facebook in 2004 from his college dorm room. He started developing the social networking site with two friends while studying computer science at Harvard University.

Today, Facebook has more than 500 million active users, according Facebook’s press room, with about 70 percent of users outside of the United States. The average user has 130 friends, and posts 90 pieces of content each month. The corporation’s value has been estimated at $34 billion.

In August, people spent a total of 41.1 million minutes, or about 9.9 percent of their Web-surfing time for the month on Facebook, according to comScore, a research company that tracks Internet activity. In the same month, people spent 39.8 million minutes on all of Google Inc.’s sites including, YouTube, Gmail, and all other content sites.

Zuckerberg continued added that Facebook was a huge risk when he founded it, but that it payed off in the end.

“Move fast, take risks. It’s okay to try big things. You’re better off trying something and having it not work, and learning from that than not having done anything at all,” he said.

The large donation was announced just days before the debut of “The Social Network,” a film about the creation of Facebook that portrays the founder’s story and the story of other people involved.

Due to the timing of the movie’s release, Zuckerberg said he considered making the donation anonymous to avoid appearing to soften the blow of “The Social Network.”

During the press conference, Booker said there were “some tense moments” while discussing the timing of the announcement.”The movie actually became a complication, because Mark’s team did not think that it would be good for him to make an announcement during this time,” he said. Of the movie, Zuckerberg said, “It’s a movie, it’s fun. A lot of it is fiction, but even the filmmakers will say that. They’re trying to build a good story. This is my life, so I know it’s not that dramatic.”

He added, “The last six years have been a lot of coding and focus and hard work. But maybe it would be fun to remember it as partying and all this crazy drama, so who knows, maybe it will be a good story.”
Michelle Williams can be reached at mnwillia@student.umass.edu

Comments
One Response to “Facebook founder lends a hand”
  1. I just returned from Iraq, and I was amazed to see my how many used facebook. I worked side by side the Uganda’s, Iraqies, British, Macedonia, and one language we all knew was facebook. Very inspiring how one boy united so many. I hope to start my business helping children someday, and I am certainly not doing it for the money. Mr. Zuckerberg, may not get this but my hats off, to him.

    Javier Castillo
    2782 Leopold Ln.
    Richland, Wa 99352

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