Sheryl Sandberg donates $100 million in Facebook stock
Published at | Updated at
Selena Larson, CNN
SAN FRANCISCO (CNNMoney) — Sheryl Sandberg is committing over $100 million in Facebook stock to charity.
The Facebook COO transferred 880,000 shares, at almost $122 per share, to the donor advised Sheryl Sandberg & Dave Goldberg Family Fund on November 21, according to a Securities and Exchange Commission filing disclosed Wednesday.
It’s unclear what causes the funds will benefit, though her two organizations — the women-focused group Lean In and grief and loss support organization OptionB.org — are potential options. According to Recode, which first reported the $100 million donation, Second Harvest Food Bank and grief support group Kara may also receive some of the financial support.
Sandberg is one of many wealthy individuals committed to giving away a majority of their wealth by signing The Giving Pledge, an effort started in 2010 that encourages the world’s richest to devote 50% or more of their money to charity. Tech luminaries including Mark Zuckerberg and Salesforce founder and CEO Marc Benioff have also signed the pledge.
Facebook did not return a request for comment.
Last year, Sandberg gave $31 million worth of Facebook stock to charitable causes.