Facebook COO Sandberg donates $100 million to donor advised fund

December 1, 2016 1:21 AM EST

FILE PHOTO -- Sheryl Sandberg, Chief Operating Officer of Facebook attends a session during the annual meeting of the World Economic Forum in Davos, Switzerland January 20, 2016. REUTERS/Ruben Sprich/Files


Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

(Reuters) - Facebook Inc Chief Operating Officer Sheryl Sandberg has donated more than $100 million to the Sheryl Sandberg & Dave Goldberg Family Fund.

Sandberg's donation to her donor advised fund comprised 880,000 of Class "A" shares of Facebook, according to a regulatory filing on Wednesday. The donation was made on Nov. 21, according to the filing. http://bit.ly/2gIf3yW

This comes months after Facebook founder Mark Zuckerberg and his wife Priscilla Chan said they would donate more than $3 billion toward a plan to "cure, prevent or manage" disease.

In December 2015, Zuckerberg made one of the largest pledges in history when he and his wife said they would donate 99 percent of their company shares to charity.

Sandberg's donation will be used to fund LeanIn.Org, her nonprofit focused on women's empowerment, as well as OptionB.org, an initiative focused on helping people build resilience after experiencing loss, the Wall Street Journal reported citing people familiar with the matter. http://on.wsj.com/2fNQkV5

Sandberg, 46, who joined Facebook in 2008 as chief operating officer for the popular social media platform, lost her husband to a treadmill accident while they were vacationing in Mexico last year.

The couple, married for 11 years, had two children together, a son and daughter. Last July, Sandberg joined the board of Survey Monkey, the online polling company that had been run by her husband.

(Reporting by Aurindom Mukherjee in Bengaluru; Editing by Sunil Nair)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Related Entities

Mark Zuckerberg

Add Your Comment