Sheryl Sandberg is transferring $100 million of her Facebook stock holdings to a fund for charitable causes.
According to her latest filings with the Securities and Exchange Commission, the Facebook COO transferred 880,000 shares. Recode reports that the shares would go into a donor advised fund, which allows Sandberg to direct money to causes of her choice. Unnamed sources familiar with Sandberg's plans told Recode that the money would go to grief support groups like Kara, anti-poverty charities and groups focused on empowering women, like her own organization Lean In.
She also recently renamed her foundation to the Sheryl Sandberg & Dave Goldberg Family Fund, after her late husband, fellow Silicon Valley tech executive Dave Goldberg, reports the Wall Street Journal.
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The fund is expected to serve as an umbrella group for Lean In and OptionB.org, a new group focused on helping people face grief and difficult circumstances that Sandberg launched, according to Recode. She is writing a book also called Option B, dealing with the themes of grief and loss.
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According to Recode, this $100 million donation is the Facebook executive's largest single philanthropic push.