Benioffs and Salesforce donate $139 million to Bay Area healthcare and education

SAN FRANCISCO - Marc and Lynne Benioff announced a $100 million gift to UCSF Benioff Children’s Hospitals to expand pediatric care facilities, while Salesforce (NYSE:CRM), a $230 billion market cap technology leader with impressive 77.65% gross profit margins, pledged $39 million to support education and local children’s hospitals. According to InvestingPro analysis, Salesforce maintains strong financial health with a perfect Piotroski Score of 9, indicating excellent operational efficiency.

The combined $139 million contribution, announced ahead of Salesforce’s annual Dreamforce conference, will fund a new state-of-the-art children’s hospital and renovations in Oakland, California, while also supporting AI education initiatives in Bay Area schools. With annual revenue reaching $39.5 billion and strong cash flows, Salesforce demonstrates its ability to maintain both business growth and community commitment. Discover more detailed insights about Salesforce’s financial performance in the comprehensive Pro Research Report, available exclusively on InvestingPro.

"The San Francisco Bay Area is the AI capital of the world. With that leadership comes a responsibility not only to innovate, but to secure the future of our community," said Marc Benioff, Chair and CEO of Salesforce.

Of the $39 million from Salesforce, $13 million will go to public schools including San Francisco and Oakland Unified School Districts to expand STEM access and provide AI training for educators. The remaining $17 million will support 18 nonprofits focused on AI readiness.

The company also plans to raise an additional $9 million for UCSF Benioff Children’s Hospitals during Dreamforce through philanthropic activities including a basketball challenge where $5 will be donated for every basket scored.

According to Nicholas Holmes, President of UCSF Benioff Children’s Hospitals, the donation will help expand and modernize pediatric facilities while providing "life-changing care for thousands of children each year."

The latest contributions bring the combined philanthropy of Salesforce and the Benioffs to the Bay Area to more than $1 billion, according to the press release statement.

Salesforce, founded 26 years ago, pioneered the 1-1-1 model of corporate philanthropy, committing 1% of equity, product, and employee time to communities. This model has evolved into the Pledge 1% movement, which has reportedly generated over $3 billion in new philanthropy worldwide. InvestingPro analysis suggests Salesforce is currently trading below its Fair Value, presenting an opportunity for investors who appreciate companies combining strong financial performance with social responsibility.

In other recent news, Salesforce has been at the center of several noteworthy developments. The company has partnered with Haleon to enhance pharmacy engagement globally, using Salesforce’s Life Sciences Cloud for Customer Engagement, Data Cloud, and Agentforce to provide data-driven insights. This partnership aims to improve interactions with pharmacies and healthcare professionals. Meanwhile, Salesforce has informed its customers that it will not pay a ransom to the hacker group ShinyHunters, which threatened to release stolen client data.

On the analyst front, Stifel has lowered its price target for Salesforce to $300 from $325, though it maintains a Buy rating, citing concerns about top-line improvement and AI monetization. Truist Securities, however, has reiterated its Buy rating and a $400 price target, suggesting potential catalysts could enhance investor sentiment. Additionally, insights from KeyBanc Capital Markets indicate that Salesforce is making progress in integrating enterprise AI into customer workflows. These updates provide a glimpse into Salesforce’s current strategic moves and market perceptions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.