Newark’s Mayor Woos Schools Backers

By Barbara Martinez (The Wall Street Journal) – Newark Mayor Cory Booker is expected to announce Monday that he has raised $40 million of the $100 million needed to match a grant put forth last week by Facebook founder Mark Zuckerberg to help Newark schoolchildren.

One major boost is from the Pershing Square Foundation, started by New York investor William Ackman, which pledged $25 million in recent days.

On Friday, Mr. Zuckerberg, Mr. Booker and New Jersey Gov. Chris Christie announced Mr. Zuckerberg’s $100 million challenge grant on Oprah Winfrey’s television show, as well as Mr. Booker’s intent to raise another $100 million. Mr. Christie controls Newark schools but has made Mr. Booker his point person on its turnaround plan.

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