Facebook COO Sheryl Sandberg Donates $100 Million to Charities

Facebook Inc. Chief Operating Officer Sheryl Sandberg put more than $100 million into her charitable fund with plans to give to groups that promote women's rights and help grieving families.

Ms. Sandberg, a billionaire who has been at Facebook since before its initial public offering, transferred 880,000 of her Class A shares in Facebook to her donor-advised fund, according to a regulatory filing Wednesday.

Her 2013 book, "Lean In," focused on helping women in the workplace. She is currently co-writing a second book now, called "Option B," about coping with the death of loved ones and her experience with loss after her husband, entrepreneur Dave Goldberg, died last year.

She recently renamed her donor-advised fund, the Sheryl Sandberg & Dave Goldberg Family Fund.

Facebook Chief Executive Officer Mark Zuckerberg and his wife Priscilla Chan have pledged to use 99% of their Facebook holdings to donate to charities and invest in companies that broaden access to opportunity.

Ms. Sandberg's latest 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, according to a person familiar with the matter. OptionB.org will launch next spring, coinciding with the publication of her next book.

Part of the proceeds will also go to nonprofits that helped Ms. Sandberg and her family deal with the loss, the person added. Some will also go to nonprofits that fight hunger, like her local food bank.

Write to Deepa Seetharaman at [e-mail]

(END) Dow Jones Newswires

November 30, 2016 22:55 ET (03:55 GMT)

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