Facebook CEO to Gift $100M to Newark Schools

(CBS Graphic)
The New York Times reports Wednesday night that Mark Zuckerberg, the CEO of Facebook, has made an arrangement to donate $100 million to improve Newark, N.J., public schools. Part of the arrangement includes a deal that lets Newark mayor Cory Booker exercise more control of the state-run schools, according to the Times.

New Jersey governor Chris Christie will make the announcement with Zuckerberg and Booker on the "Oprah Winfrey Show" Friday, according to the Times.

Newark's public schools are long troubled. The state took control of them in 1995. The deal reached between Mayor Booker and Gov. Christie will not give Booker outright control of the schools or change the state's power over them, reports the Times. Instead, Booker will be a strong voice in choosing a new superintendent of schools. The state will retain the right to take control of the school system.

Zuckerberg, who is not from Newark, met Booker in July and developed a "continuing conversation" with the mayor about Newark's future, reports the Times. Booker has actively been meeting celebrities, business leaders and appearing on television in an effort raise money for his city.

In early April, Booker appeared on "The Rachel Maddow Show" on msnbc to announce that the city was murder-free in March 2010. He has also been a guest on "Real Time with Bill Maher" on HBO.

"The Social Network," a fictionalized film version of Facebook's early days, written by Aaron Sorkin and directed by David Fincher, comes out in October.

Read the New York Times article.