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Facebook founder is biggest philanthropist

facebookThe largest donation made in the US last year was from Mark Zuckerberg, founder of the social media phenomenon Facebook.

Zuckerberg, 29, and his wife Priscilla Chan donated nearly $1 billion, the biggest public donation in the US.

In all, 15 people there donated $100 million or more to charity in 2013.

All of the donation went to the Silicon Valley Community Foundation, a not-for-profit organisation in California established in 2007. Its mandate is to make grants to other organisations providing services in the Silicon Valley area and it covers five areas: economic security, education, integration of immigrants, regional planning and community work.

But it was not cashing being donated, but 18 million shares of Facebook valued at $990 million.

The value of the gift comprises nearly one-third of the $3.4 billion donated by America’s wealthiest donors, according to the Chronicle of Philanthropy. The research did not include anonymous donors.

Mr Zuckerberg has overtaken Warren Buffett in charitable giving, although last year Mr Buffet’s donations included $3 billion to foundations established by his children.

The chairman of Nike gave $500 million to the Oregon Health & Science University Foundation and Michael Bloomberg, the former New York mayor, donated $350 million to the Johns Hopkins University in Baltimore.

Universities were among the main beneficiaries for 13 of the 15 largest donations.

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