Facebook’s Chief Operating Officer Sheryl Sandberg Donates $31Million Facebook Stock to Charities

Sheryl Sandberg, Facebook's Chief Operating Officer has donated 290,000 shares of company stock to different charities. The amount the shares are worth is approximately $31 million.

Reported by a source, familiar with the plans of Sandberg, most of the money will go to different empowerment groups for women and Lean In, the nonprofit organization and online community dedicated to helping all women achieve their ambitions. It was founded by Sandberg.

On Thursday, the donations were filed in a document with the Securities and Exchange Commission and it caught the public eye on Friday when it was reported. The amount from the stocks sold on November 20 last year was transferred to the Sheryl Sandberg Philanthropy Fund.

Sandberg signed the Giving Pledge in 2014 which was an effort started by Bill and Melinda Gates and Warren Buffett in 2010 to encourage larger number of rich individuals in the world to donate at least half of the wealth they possess to some charitable cause.

This is not the first time for Sandberg to give away her wealth and in 2012 she gave 400,000 or more Facebook shares to an unknown recipient. In May last year, her husband Dave Goldberg died after sustaining a head injury after falling off of a treadmill Mexico. He was only 47 years old.