Facebook COO Sheryl Sandberg during a programme in New Delhi on July 2, 2014. (Photo: IANS)
New York, Jan 15 (IANS) After Facebook CEO and his wife making a pledge in December to give away 99 percent of their stock over their lifetime, the social networking giant's COO Sheryl Sandberg has decided to donate $31 million in Facebook stock to charity, the media reported on Friday.
She donated 290,000 shares of Facebook stock at "a market value of roughly $31 million" to various charities, according to a Securities and Exchange Commission document.
The shares were technically transferred to the Sheryl Sandberg Philanthropy Fund.
The majority of the $31 million donation will go to women's empowerment groups and Lean In, a nonprofit founded by Sandberg to help support women in the workplace, recode.net reported.
She also plans to give money to education groups and anti-poverty efforts.
In December, Zuckerberg and Chan promised that they would give away their money "during our lives" through wealth charitable donations, private investment and promotion of government policy reform.
Meanwhile, Facebook said in a securities filing Zuckerberg has planned to give away "no more than $1 billion of Facebook stock each year for the next three years."
