Facebook COO Sandberg donates $100 million to donor advised fund

Facebook Inc Chief Operating Officer Sheryl Sandberg has donated more than $100 million to the Sheryl Sandberg & Dave Goldberg Family Fund.

Sandberg’s donation to her donor advised fund comprised 880,000 of Class “A” shares of Facebook, according to a regulatory filing on Wednesday. The donation was made on Nov. 21, according to the filing.

This comes months after Facebook founder Mark Zuckerberg and his wife Priscilla Chan said they would donate more than $3 billion toward a plan to “cure, prevent or manage” disease.

In December 2015, Zuckerberg made one of the largest pledges in history when he and his wife said they would donate 99 percent of their company shares to charity.

Sandberg’s donation will be used to fund LeanIn.Org, her nonprofit focused on women’s empowerment, as well as OptionB.org, an initiative focused on helping people build resilience after experiencing loss, the Wall Street Journal reported citing people familiar with the matter.

Sandberg, 46, who joined Facebook in 2008 as chief operating officer for the popular social media platform, lost her husband to a treadmill accident while they were vacationing in Mexico last year.

The couple, married for 11 years, had two children together, a son and daughter. Last July, Sandberg joined the board of Survey Monkey, the online polling company that had been run by her husband.

Source: Reuters