Facebook CEO to announce $100M donation to Newark schools

Schools in New Jersey's largest city are poised to receive $100 million from Facebook founder Mark Zuckerberg.Reports say Newark Mayor Cory Booker, Gov. Chris Christie

NEWARK - Schools in New Jersey's largest city are poised to receive $100 million from Facebook founder Mark Zuckerberg.

Reports say Newark Mayor Cory Booker, Gov. Chris Christie and Facebook's Zuckerberg are expected to announce the donation this afternoon on Oprah Winfrey's Chicago-based TV show.

To see a breakdown of how the donation could be spent, click "NEXT" under the video player.

Under the arrangement, Booker will reportedly take some control over the troubled school system, which is run by the state and has some of its lowest test scores and poorest graduation rates in New Jersey.

The $100 million would be put as stock into a new foundation created by the 26-year-old CEO, according to a report on NJ.com. The stock would be liquidated as necessary for use in Newark schools. The arrangement would give Zuckerberg the ability to control the flow of money at his discretion if he believes it is not being spent appropriately, the report said.

?This historic donation is a real opportunity for Newark to become a national model for leveraging private dollars to improve an urban school system,? said Mashea Ashton, CEO of the Newark Charter School Fund.

Booker and Christie support changes that are opposed by teacher unions, including charter schools and teacher evaluations.

Facebook is based in Palo Alto, Calif.

For the full nj.com report, click here.AP wire services contributed to this report.

advertisement | advertise on News 12

Trending Video

Video: Preparing White House for new president 'organized 1 Video: Preparing White House for new president 'organized chaos'
Workers help build a deck for Boonton resident 2 Nonprofit group builds deck for disabled veteran
From a businessman in Atlantic City to president 3 From businessman to president, a look at Donald Trump's journey
Jersey Weekend Buzz 4 Jersey Weekend Buzz
Connor Mills is today's Scholar Athlete. 5 Scholar Athlete - Connor Mills

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE