Dec 1 Mark Zuckerberg’s assurance on Tuesday to give most of his Facebook shares, an approximately $45 billion bundle away, helps cement his job as among the most generous donors of Silicon Valley.
The contribution may additionally help reinforce the standing of the technology community, which has faced criticism for exacerbating income inequality in Silicon Valley while valuations of firms there reach stratospheric levels and driving up rents.
Zuckerberg, 31, and his wife Priscilla Chan, already lauded for giving $15 billion in Facebook stock to the Silicon Valley Community Foundation (SVCF), are placing a high bar that’s bringing more cash to philanthropic enterprises.
The creators of GoPro, Jill and Nicholas Woodman, the wearable camera business, said $500 million would be given by them . Jan Koum, a co founder of message service WhatsApp, pledged more than $500 million, additionally for the SVCF.
Sean Parker, an early Facebook executive and also a creator of music-sharing service Napster, has given $600 million to his foundation, which has aims of enhancing public health civic involvement, and life sciences.
The Sergey Brin of Google last year gave $383 million to his family foundation, which supports like eradicating poverty in the San Francisco area causes.
His co founder, Larry Page, gave stock valued at $177 million to some foundation named after his dad, Carl Victor Page, that he began in 2006 to Google. It focuses on areas including medicine and education.
Page had landed on Inside the list of least generous donors of Philanthropy, the year before. “The foundation appears to give and then donor-advised funds that may sit on the cash forever, ” the publication wrote during the time.
A representative of the Page Foundation failed to immediately react to your request for opinion.
Another technology titan having an ample philanthropic run is investor Yuri Milner, who bankrolls the yearly Breakthrough Prizes, which gives $3 million each. Before this season, Milner said he’d spend $100 million by hunting for light and radio signals, looking.
But so far, the most well-known technology donor is Microsoft founder Bill Gates, who along with his wife Melinda, have given $307 billion as of last year to the Bill & Melinda Gates Foundation, known for work in poverty and health care.
Gates is a top promoter of the Giving Pledge, a dedication created to dedicate most of their wealth. (Reporting by Sarah McBride; Editing by Bernard Orr).