Facebook COO Sheryl Sandberg is transferring $100 million of her Facebook stock holdings to a fund for charitable donations. Sandberg has also will rename her current foundation the Sheryl Sandberg & Dave Goldberg Family Foundation after her late husband, a Silicon Valley entrepreneur who died unexpectedly about 18 months ago.
As of June 2015, Sandberg is reported to be worth over $1 billion.
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According to a Securities and Exchange Commission document filings Wednesday, Sandberg transferred 880, 000 shares into a donor advised fund which is controlled by Fidelity and allows Sandberg to direct money to causes of her choice.
Unnamed sources familiar with the matter told Recode that the money would go to grief support anti-poverty organizations like Second Harvest Food Bank, grief organizations like Kara and like her own organization Lean In.