Newark, N.J., Mayor Cory Booker was expected to announced Monday he has raised $40-million toward matching last week’s $100-million pledge from Mark Zuckerberg, a founder of Facebook, to help the city’s troubled school system, says The Wall Street Journal.
The Pershing Square Foundation, created by the New York investor William Ackman, has put up $25-million toward meeting the challenge grant announced last week by the social-network entrepreneur. A person close to the process told The Journal that Bill Gates is also among the new donors.
On Friday Mr. Zuckerberg also announced the creation of Start Up: Education, a foundation focused on improving U.S. public schools, beginning with the Newark project, technology-news site Newark Start-Ledger writes.
Mr. Zuckerberg said he considered making the gift anonymous to avoid the implication that it was timed to match the release of The Social Network, a highly publicized feature film that paints an unflattering picture of the Facebook founder. Mr. Booker said he and New Jersey Gov. Chris Christie pressed Mr. Zuckerberg to go public.
Read a Chronicle of Philanthropy article about Mr. Zuckerberg’s Newark gift.