Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Sheryl Sandberg sold $1.7 billion worth of Facebook stock over the last decade

Sheryl Sandberg sold $1.7 billion worth of Facebook stock over the last decade

Over the past decade, Sandberg has sold over 75% of her shares through regularly scheduled share sale programs.
Sheryl Sandberg leaves Meta as one of the highest-profile and most successful women in tech — and after more than $1.7 billion in stock sales.

Sandberg announced Wednesday that she is stepping down from her role as chief operating officer after 14 years at Meta, formerly known as Facebook. Sandberg will remain on the social media company’s board.

Sandberg’s wealth totals an estimated $1.6 billion, according to Forbes, making her the second wealthiest woman in tech after Meg Whitman. Whitman previously held the top job at Hewlett Packard Enterprise and is worth an estimated $3.2 billion, according to Forbes.

Sandberg is also one of the rare non-CEOs and non-founders to become a billionaire.

While many corporate executives tend to hold on to the bulk of their shares as a show of confidence in their companies, Sandberg has been an aggressive and consistent seller of Facebook (now Meta) stock.

Over the past decade, Sandberg has sold over 75% of her after-tax shares through regularly scheduled share sale programs, according to research firms that track the sales. In total, she sold over 22 million shares for more than $1.7 billion, according to analytics firm VerityData. Depending on the treatment of options and restricted stock sales, the total could actually be higher, according to another analytics firm, Smart Insider, which calculates 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,” said Ben Silverman, director of research at VerityData.

A spokesperson for Sandberg said she acquired 48 million restricted stock units, options and shares during her time at the company. About 20 million were sold for taxes, and she sold 22 million of the remaining 28 million through a 10b5-1 pre-schedule selling program.

Sandberg cashed out shares at a wide range of prices as Facebook shares soared. The stock priced at $38 per share in the company’s initial public offering in 2012 and peaked above $382 per share in September.

Sandberg’s average stock sale price over the past decade was $79.10 per share, according to VerityData, with her most recent sale in October 2019.

Despite her billionaire status, Sandberg hasn’t shown the penchant for yachts, private jets and beach homes shown by other tech tycoons. According to media reports, in 2013 she moved into a newly built, 9,200-square-foot home in Menlo Park, California, close to Facebook’s headquarters, that features a wine room, gym, waterfall and solar panels on the roof.

Sandberg has also gifted some of the proceeds of her sales to charity. In 2016, she gave $107.2 million to her donor-advised fund at Fidelity Charitable. At the time she didn’t say which charities she would fund, but has said she plans to support programs that increase opportunities for women and girls.

Sandberg’s spokesperson said she had made total reportable gifts of 4.9 million shares, with 2.8 million shares to her donor-advised fund and 2.1 million irrevocable transfers to trusts for beneficiaries. Smart Insider estimates Sandberg has given away $484 million in shares.

In announcing her departure on Wednesday, Sandberg said the decision to leave Meta will allow her to focus more on her philanthropic work.

Sandberg has also been an active political donor, contributing to Democratic candidates and frequently hosting Democratic fundraisers.

She still owns nearly 1.5 million shares, with a current market value of about $290 million, in a revocable trust. She also has 333,642 shares of unvested restricted stock, some of which may vest before she leaves.

Meta shares closed on Wednesday at $188.64.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
France, at an Impasse, Heads Toward Another Government Collapse
The Country That Got Too Rich? Public Spending Dominates Norway Election
EU Proposes Phasing Out Russian Oil and Gas by End of 2027 to End Energy Dependence
More Than 150,000 Followers for a Fictional Character: The New Influencers Are AI Creations
EU Prepares for War
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Druzhba Pipeline Incident Sparks Geopolitical Tensions
Cost of Opposition Leader Péter Magyar's Economic Plan Revealed
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
×