Facebook's IPO Will Not Affect Zuck's Newark Pledge


Photo: Stephen Rees on flickr

Facebook’s public stock offering apparently will not affect its company co-founder’s pledge of shares worth $100 million to the Newark, N.J., school system.A person with direct knowledge of Mark Zuckerberg’s pledge said Thursday the gift did not specify a number of shares but was to total $100 million over five years, so it would not fluctuate because of a stock offering.

The person was not authorised to speak publicly about the donation and spoke on condition of anonymity.

The $100 million donation was announced on Oprah Winfrey’s talk show in September 2010.

On Wednesday, the social networking giant filed plans to go public in a stock offering that could value it at up to $100 billion.

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