Credible News
  • Home
  • Conflict
  • Crime
  • Education
  • Economy
  • Entertainment
  • Foreign
  • Health
  • ICT
  • Legal
  • Politics
  • Security
  • Sports
No Result
View All Result
  • Home
  • Conflict
  • Crime
  • Education
  • Economy
  • Entertainment
  • Foreign
  • Health
  • ICT
  • Legal
  • Politics
  • Security
  • Sports
No Result
View All Result
Credible News
No Result
View All Result

Zuckerberg school for poor kids suffers insolvency

Closure sparks debate on billionaire philanthropy

admin by admin
September 19, 2025
in Foreign, Human Interest, News
0
Zuckerberg school for poor kids suffers insolvency
0
SHARES
5
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Mark Zuckerberg’s school for low-income kids is shutting down, sparking debate on billionaire philanthropy and the fragility of donor-funded projects.

The school, founded to give children from disadvantaged backgrounds a better chance at education, had grown into a vital lifeline in its community.

Its closure is more than the loss of a building—it represents a profound setback for families who depended on its support and saw it as a beacon of hope.

The project was funded primarily through the Chan Zuckerberg Initiative,CZI, which invested about $100 million from 2018 through 2024.

Unlike traditional schools, the Primary School was built to serve as a community hub, designed to offer equal opportunities to children facing the toughest odds.

Despite the heavy financial backing, the school failed to achieve long-term stability. It struggled to attract significant funding beyond CZI’s support, and public contributions remained limited.

Board chairman Jean-Claude Brizard highlighted the challenge, stressing, “If a project depends 100% or even 50% on philanthropy, it’s not a viable long-term model.”

By April 2025, the difficult decision was made: the Primary School would close by the end of 2026. While official statements gave little detail, the turning point came when CZI pulled its financial support.

Donations had already dropped sharply—from $8 million in 2022 to just $3.7 million in 2023—pushing the school’s budget into crisis.

READ ALSO:Trump, Starmer seal landmark tech prosperity deal

For many families, the announcement was devastating. Parents openly expressed frustration, pointing to the contradiction between Zuckerberg’s soaring wealth, which jumped by an astonishing $85 billion in 2024 to reach over $200 billion, and the decision to close a school for struggling children.

One parent voiced it bluntly: “He’s a billionaire. Why would he close a school for poor kids?”

In response, the Chan Zuckerberg Initiative explained that it will pivot its focus toward scientific research and artificial intelligence.

This shift underscores a broader pattern in tech philanthropy, where investments increasingly target high-tech ventures rather than community-centered projects.

The closure of the Primary School highlights a hard reality: philanthropic initiatives heavily dependent on one wealthy donor rarely endure over the long term without diverse streams of support.

For the families affected, the loss is deeply personal. The school was not just a place of learning—it was a symbol of promise in a society where financial hardship too often dictates a child’s future.

As the community faces this difficult transition, larger questions remain. How enduring and impactful is philanthropy from the ultra-wealthy? Should billionaires like Zuckerberg be expected to ensure that their charitable projects last, or is it the responsibility of governments and communities to build more resilient systems that do not collapse when a single benefactor withdraws?

For now, the closure leaves behind a painful reminder: even projects born of good intentions can falter without a model built on steady, broad-based support.

Leravi.

Tags: Chan Zuckerberg InitiativeCZIMark ZuckerbergPhilanthropySchools for poor kids
Previous Post

Rashford leads Barcelona to UCL win against Newcastle

Next Post

FG prepares N758bn bond to clear pension debts

admin

admin

Next Post

FG prepares N758bn bond to clear pension debts

ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Kwara State university campus in Osi ready for first lectures

Kwara State university campus in Osi ready for first lectures

November 18, 2024
Police warn Lagosians against economic disturbance during NLC protest

Police in Kano urges caution as Muslims begin Ramadan

March 11, 2024
In the dark: UCH’s mounting power crisis

Is UCH in darkness: Need for responsible journalism!

February 9, 2025
Tiktok

Court remands Tik Toker for posting President Tinubu’s obituary

July 25, 2025
Corper recounts ordeal of Agunechemba attack, seeks prosecution

Corper recounts ordeal of Agunechemba attack, seeks prosecution

2

ADC begins online membership registration

2
Biden arrives Israel

Biden visits Israel amidst killing of more Palestinians

1
handcuffs

Police arrests 34-year-old man for raping 90-year-old woman

1
Ryanair flight

Berlin-Alicante flight diverts over unruly passenger

May 7, 2026
National Chairman of APC- Prof. Nentawe Yilwatda

Yilwatda says APC has no interest in Obi’s defection

May 7, 2026

Tinubu sends Fani-Kayode to South Africa

May 7, 2026
Senate probes frequent rail derailment

Senate scraps contentious ranking rules

May 7, 2026

Recent News

Ryanair flight

Berlin-Alicante flight diverts over unruly passenger

May 7, 2026
National Chairman of APC- Prof. Nentawe Yilwatda

Yilwatda says APC has no interest in Obi’s defection

May 7, 2026

Tinubu sends Fani-Kayode to South Africa

May 7, 2026
Senate probes frequent rail derailment

Senate scraps contentious ranking rules

May 7, 2026
Credible News

At Credible News we seek, process and serve news, opinions and analyses that are verifiable and reliable.
We also provide readers with authentic and credible facts and figures, news, opinions and analyses to make informed choices.

Follow Us

Browse by Category

  • Accident
  • Agriculture
  • Banking
  • Conflict
  • Crime
  • Development
  • Economy
  • Education
  • Entertainment
  • Fashion
  • Features
  • Foreign
  • Global Trade
  • Health
  • Human Interest
  • ICT
  • Interviews
  • Legal
  • Life Style
  • News
  • Oil & Gas
  • Opinion
  • Politics
  • Religion
  • Security
  • Sports
  • Travel
  • Trending
  • Women

Recent News

Ryanair flight

Berlin-Alicante flight diverts over unruly passenger

May 7, 2026
National Chairman of APC- Prof. Nentawe Yilwatda

Yilwatda says APC has no interest in Obi’s defection

May 7, 2026
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2024 Credible News - The place for all factual stories. Designed by VintoICT Solutions.

No Result
View All Result
  • Home
  • Conflict
  • Crime
  • Education
  • Economy
  • Entertainment
  • Foreign
  • Health
  • ICT
  • Legal
  • Politics
  • Security
  • Sports

© 2024 Credible News - The place for all factual stories. Designed by VintoICT Solutions.