Meta CEO Sheryl Sandberg left the company after selling more than $1.7 billion in stock. She is one of the few leaders who are not CEOs to become billionaires.
Sandberg leaves Meta as one of the most powerful and successful female figures in the tech world. On June 2, she announced that she would step down as Meta CEO after 14 years of service. However, she remains on the board of directors.
According to Forbes magazine, Sandberg’s net worth is estimated at $1.6 billion, making her the second-richest woman in the tech world, just behind Meg Whitman. Ms. Whitman used to sit in the top seat at HP and owns a net worth of about $3.2 billion.
Ms. Sandberg is also a rare leader to become a billionaire even though she is not a CEO or founder.
Unlike many other business leaders who often hold a majority of shares to show confidence in the company, Ms. Sandberg regularly sells shares of Facebook (now Meta). Over the past decade, she has sold more than 75% of her stock through recurring sales programs. In total, she sold more than 22 million shares worth more than $1.7 billion, according to analytics firm VerityData. Another research firm, Smart Insider, thinks the value is even higher, nearly $1.9 billion.
Ben Silverman, research director at VerityData, said that with the sale of shares like this, she is one of the most sold insiders in any US company.
Spokesperson Sandberg said she received 48 million shares of stock, options and shares during her tenure at Facebook. About 20 million sold to pay taxes, 22 million of the remaining 28 million sold through the 10b5-1 recurring program. Therefore, the amount of money she collects is also very different. In 2012, Facebook shares were priced at $38 at the IPO and rose to $382 in November 2021. Sandberg’s 10-year average selling price of Facebook stock is $79.1, according to VerityData. The most recent sale was in October 2019.
Although she is a billionaire, Ms. Sandberg does not pursue luxuries such as yachts, private jets, sea real estate… According to the press, in 2013, she moved to a newly built apartment in Menlo Park, near Facebook headquarters. , including a wine cellar, gym, artificial waterfall, solar panels on the roof.
She also donates her fortune to charities. In 2016, she donated $107.2 million to the Fidelity Charitable Foundation. She once said she wanted to support programs that increase opportunities for women and girls. Smart Insider estimates she has given away $484 million in stock.
When she announced her departure from Meta, Ms. Sandberg said the decision would allow her to focus more on volunteer work. Currently, she still holds nearly 1.5 million shares, with a market value of about 290 million USD.
Du Lam (According to CNBC)
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