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Zuckerberg announces $120M donation to Bay Area schools

Facebook founder and CEO Mark Zuckerberg announced Friday that he will be donating $120 million to San Francisco Bay-area schools—the second largest education donation he has made in less than four years.

Zuckerberg, along with his wife Priscilla Chan, are providing the donation through their Startup:Education foundation. Their current plan is to spread out the gift over five years, focusing the first $5 million on upgrading technology in high-need school districts.

Read MoreWhere Zuckerberg's $100 million gift went wrong: Pros

Beyond technology, Zuckerberg and Chan's donation will also fund leadership training for teachers and school administrators, as well as helping students transition into high school.

Mark Zuckerberg and his wife, Priscilla Chan.
Daniel Acker | Bloomberg | Getty Images
Mark Zuckerberg and his wife, Priscilla Chan.

Chan attended public school from pre-kindergarten to 12th grade, and became the first person in her family to attend college upon entering Harvard.

Read MoreZuckerberg tops list of US philanthropists

Zuckerberg launched Startup:Education when he announced a $100 million donation to Newark, N.J., schools in September 2010. That gift involved input from New Jersey Gov. Chris Christie and then-Newark mayor (now-Sen.) Cory Booker.

After an initial positive reception, the new initiatives funded by the donation have been subject to significant public opposition. Thebiggest criticism has centered on a top-down reform strategy that did not draw sufficient input from those most impacted by the changes.

While Zuckerberg held little personal connection to Newark, he is an active participant in the Bay Area community. He reportedly taught a weekly after-school program wherein students learned about small business.

CORRECTION: This article has been corrected to show the total donation is $120 million.

—By CNBC's Everett Rosenfeld

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