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23 September 2010 By Robert Cyran Follow @rob_cyran

Andrew Carnegie said a man who dies rich dies disgraced. Facebook s 26yearold founder is taking note early, giving $100 mln to a troubled U.S. city’s schools. It s a generous move and a burnished reputation will probably help the social networking magnate s business, too.

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Mark Zuckerberg, cofounder and chief executive of Facebook, will donate $100 million to the Newark school system, according to news reports. In conjunction with the gift, New Jersey governor Chris Christie plans to cede some control over schools in the troubled city to mayor Cory Booker. The three will announce the plan on the Oprah TV show on Sept. 24, the reports say. The state took over Newark's schools in 1995 due to poor performance.

The 26yearold Zuckerberg ranks 35th on the new Forbes annual list of the richest Americans, published on Sept. 22. He is worth $6.9 billion, according to the magazine, up from $2 billion last year.

Separately, the movie The Social Network is set to debut on Sept. 24 and open in theaters more widely on Oct. 1. The film is a semifictional account of the creation and rise of Facebook.

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