Sheryl Sandberg leaves Meta as one of the highest-profile and most effective females in tech– and after more than $1.7 billion in stock sales.
Sandberg revealed Wednesday that she is stepping below her function as primary running officer after 14 years at Meta, previously referred to asFacebook Sandberg will stay on the social networks business’s board.
Sandberg’s wealth amounts to an approximated $1.6 billion, according to Forbes, making her the 2nd most affluent female in tech after MegWhitman Whitman formerly held the leading task at Hewlett Packard Enterprise and deserves an approximated $3.2 billion, according to Forbes.
Sandberg is likewise among the uncommon non-CEOs and non-founders to end up being a billionaire.
While numerous business executives tend to hang on to the bulk of their shares as a program of self-confidence in their business, Sandberg has actually been an aggressive and constant seller of Facebook (now Meta) stock.
Over the previous years, Sandberg has actually offered over 75% of her after-tax shares through routinely arranged share sale programs, according to research study companies that track the sales. In overall, she offered over 22 million shares for more than $1.7 billion, according to analytics firm VerityData. Depending on the treatment of choices and limited stock sales, the overall might really be greater, according to another analytics company, Smart Insider, which computes her stock sales at closer to $1.9 billion.
“Her sales over the past decade makes her one of the biggest insider sellers at any U.S. company,” stated Ben Silverman, director of research study at VerityData.
A representative for Sandberg stated she obtained 48 million limited stock systems, choices and shares throughout her time at the business. About 20 million were cost taxes, and she offered 22 countless the staying 28 million through a 10 b5-1 pre-schedule selling program.
Sandberg squandered shares at a wide variety of rates as Facebook shares skyrocketed. The stock priced at $38 per share in the business’s going public in 2012 and peaked above $382 per share in September.
Sandberg’s typical stock price over the previous years was $7910 per share, according to VerityData, with her newest sale in October 2019.
Despite her billionaire status, Sandberg hasn’t revealed the fondness for private yachts, personal jets and beach houses revealed by other tech magnates. According to media reports, in 2013 she moved into a recently constructed, 9,200- square-foot house in Menlo Park, California, near to Facebook’s head office, that includes a white wine space, health club, waterfall and photovoltaic panels on the roofing system.
Sandberg has likewise talented a few of the earnings of her sales to charity. In 2016, she provided $1072 million to her donor-advised fund at FidelityCharitable At the time she didn’t state which charities she would money, however has actually stated she prepares to support programs that increase chances for females and ladies.
Sandberg’s representative stated she had actually made overall reportable presents of 4.9 million shares, with 2.8 million shares to her donor-advised fund and 2.1 million irreversible transfers to trusts for recipients. Smart Insider quotes Sandberg has actually handed out $484 million in shares.
In revealing her departure on Wednesday, Sandberg stated the choice to leave Meta will permit her to focus more on her humanitarian work.
Sandberg has actually likewise been an active political donor, adding to Democratic prospects and regularly hosting Democratic fundraising events.
She still owns almost 1.5 million shares, with a present market price of about $290 million, in a revocable trust. She likewise has 333,642 shares of unvested limited stock, a few of which might vest prior to she leaves.
Meta shares closed on Wednesday at $18864
