It was not long before Mark Zuckerberg promised to donate 99% of the company’s shares post her daughter’s birth. Following suit, Facebook COO, Sheryl Sandberg donated USD 31 million to charity.
Sandberg made a contribution of 290,000 shares of Facebook stock at“ a market value of roughly USD 31 million” to various charities, according to a Securities and Exchange Commission document.
Sheryl Sandberg Philanthropy Fund, a donor-advised fund is not securing the shares. A majority of the donation amount will be given away to the causes that Ms. Sandberg has been supporting. Money has also been given to women’s empowerment groups, such as Lean In, to help support women in workplace, SiliconValley.com reported today.
She also plans to make contributions to anti-poverty efforts and educational groups, Sandberg co-chairs Stand Up for Kids Campaign for Second Harvest Food Bank of Santa Clara & San Mateo Counties.
Zuckerberg on the other hand, pledged to give away 99% of the company’s shares, worth an enormous USD 45 billion to make the world a ‘better place’ for their daughter Maxima and other children.