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Zuckerberg Donates $500 Million to Silicon Valley Foundation

Facebook Inc. Chief Executive Officer Mark Zuckerberg is donating almost $500 million in shares of the world’s largest social network to the Silicon Valley Community Foundation.

The gift to the nonprofit group, which had $2 billion in assets in 2011, is to “lay a foundation for new projects,” Zuckerberg said yesterday in a statement posted on his Facebook page.