Sheryl Sandberg Donates Facebook Stock Worth Nearly $100 Million

Sheryl Sandberg Donates Facebook Stock Worth Nearly $100 Million

Facebook COO Sheryl Sandberg has donated Facebook stock worth nearly $100 million to charity, Recode reports.

According to a Securities and Exchange Commission filing made last Thursday, Sandberg transferred five hundred and ninety thousand shares of Facebook stock to her Fidelity Charitable donor-advised fund. A portion of the funds will be directed to two nonprofits founded by Sandberg — LeanIn.org, which supports women's empowerment in the workplace; and OptionB.org, an organization launched last year after the death of her husband to help people who have suffered a devastating loss overcome grief. Additional funds will be allocated to the Sheryl Sandberg & Dave Goldberg Family Foundation, which also serves as the umbrella organization for the two nonprofits. In January and again in December 2016, Sandberg gave Facebook stock worth about $31 million and $100 million to her Fidelity donor-advised fund as part of her and Goldberg's commitment to the Giving Pledge, which they signed in 2014.

A source familiar with Sandberg's plans told Recode that a portion of the funds will support efforts to end childhood hunger and to help support college students from disadvantaged backgrounds.