Facebook COO donates nearly $100 mn to charity

According to a report in the technology website Re/code on Wednesday, 880,000 shares were transferred into a donor advised fund which is controlled by Fidelity.

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New York, Dec 1: Facebook Chief Operating Officer (COO) Sheryl Sandberg has transferred nearly $100 million in Facebook stock into a charitable fund, a US Securities and Exchange Commission document has revealed.

According to a report in the technology website Re/code on Wednesday, 880,000 shares were transferred into a donor advised fund which is controlled by Fidelity.

Facebook COO donates nearly $100 mn

"Sandberg has the chance to steer the money where she wants it," the report added.

The fund includes women's empowerment groups like Lean In (founded by Sandberg), anti-poverty organisations like Second Harvest Food Bank and grief organisations like Kara.

Sandberg has also filed paperwork to rename her current foundation the "Sheryl Sandberg & Dave Goldberg Family Foundation" after her late husband who died about 18 months ago.

The non-profit foundation will serve as an umbrella organisation for both LeanIn.org and a new one Sandberg is starting called OptionB.org which is intended to help people cope with loss and hardship.

IANS

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