Sandberg a billionaire as Facebook shares hit new high

A Facebook Like Button logo at the entrance of the headquarters in Menlo Park on May 10, 2012
A Facebook Like Button logo at the entrance of the headquarters in Menlo Park on May 10, 2012

Facebook shares climbed to a new high on Tuesday, catapulting chief operating officer Sheryl Sandberg onto the roster of tech billionaires.

Shares of the world's leading social network closed the Nasdaq trading day at $58.51, shedding a few cents in after-hours trade.

Sandberg owns about $750 million worth of Facebook stock and is said to have sold about $300 million worth of shares since the California-based company became a publicly traded company in May of 2012.

The 44-year-old former Google executive is also reported to have stock options for nearly five million shares that began vesting last year.

The social media giant started by Mark Zuckerberg, which now has more than 1.1 billion users around the globe, had a rocky debut after it went public at $38 a with a valuation of $16 billion.

Facebook shares dropped below $20 during the ensuing months and only climbed back over their offer price in July of last year.

Zuckerberg, who will turn 30 in May, has a personal fortune estimated at about $19 billion.

Facebook COO Sheryl Sandberg at the 2013 Dreamforce conference on November 20, 2013 in San Francisco, California
Facebook COO Sheryl Sandberg at the 2013 Dreamforce conference on November 20, 2013 in San Francisco, California

Facebook will release its quarterly earnings figures next week.


Explore further

Sheryl Sandberg sells $91 million of Facebook stock

© 2014 AFP

Citation: Sandberg a billionaire as Facebook shares hit new high (2014, January 22) retrieved 20 August 2019 from https://phys.org/news/2014-01-sandberg-billionaire-facebook-high.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more