Facebook COO Sheryl Sandberg donates $31 mn to charity

Sheryl Sandberg donated 290,000 shares of Facebook stock at a market value of roughly $31 million to various charities, according to a Securities and Exchange Commission document.

By IANS  
Friday, January 15, 2016

After Facebook CEO and his wife making a pledge in December to give away 99 per cent of their stock over their lifetime, the social networking giant's COO Sheryl Sandberg has decided to donate $31 million in Facebook stock to charity, the media reported on Friday.

She donated 290,000 shares of Facebook stock at "a market value of roughly $31 million" to various charities, according to a Securities and Exchange Commission document.

The shares were technically transferred to the Sheryl Sandberg Philanthropy Fund.

The majority of the $31 million donation will go to women's empowerment groups and Lean In, a nonprofit founded by Sandberg to help support women in the workplace, recode.net reported.

She also plans to give money to education groups and anti-poverty efforts.

In December, Mark Zuckerberg and Priscilla Chan promised that they would give away their money "during our lives" through wealth charitable donations, private investment and promotion of government-policy reform.

Meanwhile, Facebook said in a securities filing Zuckerberg has planned to give away "no more than $1 billion of Facebook stock each year for the next three years."

Latest Stories

Jet Airways stock falls to fresh 52-week low after I-T dept inspects company's books
Jet Airways stock falls to fresh 52-week low after I-T dept inspects company's books
Isha Ambani and Anand Piramal to get officially engaged today at Lake Como in Italy. Details here
Isha Ambani and Anand Piramal to get officially engaged today at Lake Como in Italy. Details here
Why YES Bank stock fell over 34% in early trade today
Why YES Bank stock fell over 34% in early trade today
SPONSORED