Silicon Valley Community Foundation
Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, are donating $120 million to Bay Area public school districts.
The gift of 18 million Facebook shares is valued at $498.8 million based on their closing stock price on Tuesday, when Zuckerberg, 28, made the donation. The beneficiary is the Silicon Valley Community Foundation, a nonprofit that works with donors to allocate their gifts.
A new Silicon Valley report concludes that California needs to rethink how local government services are financed, while also calling for a re-examination of Proposition 13.