A Securities and Exchange Commission (SEC) document filed on Thursday revealed that Facebook Chief Operating Officer (COO) Sheryl Sandberg donated 290,000 shares of her Facebook stock to the Sheryl Sandberg Philanthropy Fund where the $31 million worth of shares will be appropriated to the charities the COO cares about.
The transfer was actually made on Nov. 20, 2015 but was only disclosed publicly when the SEC document was filed. This is just one of the few known huge endowments from Sandberg who has already donated at least 400,000 shares in 2012.
Then again, Sandberg's move is to be expected since she is committed to causes that focus on gender equality, education and anti-poverty efforts. She has given donations prior to the huge amounts that have been reported but most of her charitable donations did not make the news. She also signed up for The Giving Pledge in 2014 so we can be sure that Sandberg's contributions would not be stopping anytime soon.
"The Giving Pledge is specifically focused on billionaires or those who would be billionaires if not for their giving... The pledge asks only that the individual give the majority of their wealth to philanthropic causes or charitable organizations either during their lifetime or in their will," The Giving Pledge website explains.
Sandberg and husband Dave Goldberg, who passed away in 2015, may not have a pledge letter outlining how much they would give to philanthropy work when they signed up, unlike some of the world's richest, but we know there is no lack on their part when it comes to actually giving.
Sandberg founded LeanIn.Org in 2013, a non-profit organization which aims to encourage women to push forward and lead in their careers even as they start families. This was inspired from her 2010 TED Talk and her book, "Lean In." Likewise, she is active as a board member of "Women for Women International," an organization aimed at giving aid to women in regions where there are conflicts. Check out her TED talk in the video below.
Of course, Sandberg will get a tax break and income tax deduction from as a benefit of her sizeable contribution.
Facebook Founder and Chief Executive Officer Mark Zuckerberg and his wife Priscilla Chan also signed up for The Giving Pledge, although Zukerberg's most recent philanthropic move was received with criticism.
