Facebook’s COO Pledges $31 Million To Various Charities

Facebook’s COO Pledges $31 Million To Various Charities

Facebook’s chief operating officer Sheryl Sandberg has donated a market value of roughly $31 million (290,000 shares of Facebook stock) to women’s empowerment groups and Lean In, the nonprofit organisation founded by Sandberg to help support women in the workplace.

The shares were technically transferred to the Sheryl Sandberg Philanthropy Fund, a donor-advised fund that will take control of the stock but allows Sandberg to advise where the money should be spent.

The stock was actually sold on November 20, but made public in a document filed with the US Securities and Exchange Commission filed last Thursday.

Back in 2012, Sandberg gave more than 400,000 shares of Facebook to an unknown recipient.

Facebook’s CEO Mark Zuckerberg recently pledged to give away 99 per cent of Facebook’s shares over the course of his and his wife, Priscilla Chan’s, lives. The shares are estimated to be worth around $US45 billion. Last week Netflix CEO and co-founder Reed Hastings announced he’s launching a $100 million fund, called the Hastings Fund, to expand educational opportunities for children.

Image taken from Sandberg’s Facebook page.

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