I bet you're thinking 'of all the places to live, you're picking New Jersey?!'
I'm picking New Jersey, and here's why.
I'm sure you already heard that though because it happened in September.
Let's look at what, Henry Blodget, had to say about this.
In case you don't feel like reading that. The man praised Mark's incredible generosity.
Don't get me wrong. That was a serious act of kindness, but I'm gonna show you the kind of research Mr. Z should have done before he made this donation.
Funding for schools is a state regulated fund. The federal government chips in a little bit, but for the most part the money comes from the state government budget, property taxes, and small fees that the school requires. As you can imagine, there is a huge inequality in funding per pupil simply because areas that pay more property taxes are going to get more from the state. Also, states that have higher birth rates spend less money per pupil because there are more kids to educate. So here's something to look at.
This is the demographic of the New Jersey school system.
Well would you look at that! New Jersey spends $17,537 on each student.
There are quite a few benefits from that amount of money, wouldn't you agree?
I'm referring to benefits BESIDES HAVING ONLY 12 STUDENTS PER TEACHER.
New Jersey has the highest 'per-pupil expenditures' in the United States.
REALLY MR. Z, REALLY?!?
Thats who you're gonna give your money to?
Now lets look at the state with the lowest per-pupil spending.
That's 1/3 of what they're getting in New Jersey.
The amount of students to teacher is almost double that of New Jersey.
Take a wild guess at what state that is?
The reason kids in Utah have an average graduation rate is because of parent involvement in schools. Its just part of the Mormon culture.
But there are other states that could us the money too.
Look at Oklahoma whose only dedicating $7,715 per student.
Or Arizona where the students each get only $7,889.
Or Idaho where the per-pupil spending is $7,074.
Now let's be frank here.
The fact is that this multi-billionaire, who is a genius, isn't making very educated decisions.