Facebook COO Sheryl Sandberg donates $100 million FB stocks for charity

Facebook COO Sheryl Sandberg donates $100 million FB stocks for charity

Posted by Venkatesh on December 1st 2016

According to a Securities and Exchange Commission (USA) document filed on Wednesday , Facebook COO Sheryl Sandberg has transferred an estimated $100 million in Facebook stock into a fund specifically meant for charitable donations.

The stock, 880,000 shares, was transferred into what is known as a donor advised fund, which is controlled in this case by Fidelity, but gives Sandberg the chance to steer the money where she wants it Sandberg’s net worth is estimated at $1.37 billion.

She plans to use this fund for the women’s empowerment groups like Lean In (which Sandberg founded), anti-poverty organizations like Second Harvest Food Bank and grief organizations like Kara.Sandberg has also filed paperwork to rename her current foundation the Sheryl Sandberg & Dave Goldberg Family Foundation after her late husband, a beloved Silicon Valley entrepreneur who died unexpectedly about 18 months ago in a treadmill accident during a holiday.

 

That non-profit foundation will serve as an umbrella organization for both LeanIn.org and a new organization Sandberg is starting called OptionB.org, intended to help people cope with loss and hardship. Sandberg is also writing a book under the same name, “Option B,” which will come out next spring. This is not Sandberg’s first big philanthropic push, though it is her largest. Last year, she set aside $31 million in Facebook stock for similar causes, and has signed The Giving Pledge, a commitment to give away more than half of her wealth during her lifetime. (First reported in Recode.net)

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