Mark Zuckerberg donates $500 million

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FORTUNE -- Mark Zuckerberg donated Facebook shares worth $500 million to the Silicon Valley Community Foundation, a non-profit organization that works with donors to allocate funds according to their interests. The gift is the largest ever received by the foundation, which finances projects locally and around the world, and Zuckerberg said he planned to focus his giving in health and education.

Zuckerberg announced the gift in a post on Facebook, where he noted that he and his wife Priscilla Chan had previously signed the Giving Pledge, an effort led by Warren Buffett and Bill Gates to encourage billionaires to donate most of their wealth to philanthropic causes. In 2010, Zuckerberg pledged to donate $100 million in Facebook (FB) shares to an effort to improve public education in Newark, New Jersey.

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Zuckerberg donates $500 million

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