You are here: Home » News-IANS » General
Business Standard

Facebook COO donates nearly $100 mn to charity

IANS  |  New York 

Chief Operating Officer (COO) Sheryl Sandberg has transferred nearly $100 million in 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.

"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

sku/na/dg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Facebook COO donates nearly $100 mn to charity

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.

Chief Operating Officer (COO) Sheryl Sandberg has transferred nearly $100 million in 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.

"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

sku/na/dg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Facebook COO donates nearly $100 mn to charity

Chief Operating Officer (COO) Sheryl Sandberg has transferred nearly $100 million in 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.

"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

sku/na/dg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard