Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, are donating $120 million 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 $1.1 billion in Facebook stock the couple pledged last year to the nonprofit Silicon Valley Community Foundation.
 
Chan called the donation a drop in the bucket, and an attempt to promote the development of new models.

The first $5 million will go to school districts in San Francisco, Ravenswood and Redwood City and will focus on principal training, classroom technology and helping students transition from the 8th to the 9th grade. The couple and their foundation, called Startup: Education, determined the issues of most urgent need based on discussions with school administrators and local leaders.


Chan, 29, and Zuckerberg, 30, have made philanthropy a central theme of their life together. The two made the largest charitable gift on record for 2013. That $1.1 billion donation was on top of another $500 million the couple gave a year earlier to the Silicon Valley foundation, which helps donors allocate their gifts.