Zuckerberg and wife Chan give $120m to school system

Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, are donating $120m (€88m) to the San Francisco Bay Area’s public school system.

The couple’s gift will be spread over the next five years and is the biggest allocation to date of the $1.1bn in Facebook stock the couple pledged last year to the non-profit Silicon Valley Community Foundation.

“Education is incredibly expensive and this is a drop in the bucket. What we are trying to do is catalyse change by exploring and promoting the development of new interventions and new models,” Chan said at Facebook’s Menlo Park, California, headquarters.