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Facebook's COO Sandberg donates $31 million to charity
After Facebook CEO and his wife making a pledge in December to give away 99 percent 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.
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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, Zuckerberg and Chan promised that they would give away their money "during our lives" through wealth charitable donations, private investment and promotion of government-policy reform.
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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."
Source IANS
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99,999
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1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
11,999
-
16,026
-
14,248
-
14,466
-
26,634
-
18,800
-
62,425
-
1,15,909
-
93,635
-
75,804