A few days ago, Sheryl Sandberg announced her departure from the Meta group. CNBC reveals today that she would have sold for $1.7 billion worth of stock which makes her the second richest woman in the technology sector after Meg Whitman (former director at Hewlett Packard Enterprise).
Sheryl Sandberg has sold stocks throughout her career
After 14 years at Facebook, Sheryl Sandberg has decided to jump ship. She helped make this company what it is today. Meta certainly would not have become one of the largest advertising vessels in the world without the passage of Sheryl Sandberg. Before joining Facebook, she had acquired a certain maturity by training at Google. Over the years, she had become enormously important in the group. She decided to leave him and sell his shares for 1.7 billion dollars.
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Sheryl Sandberg is one of the few people to become a billionaire without ever having been CEO or founder of a company. To build her fortune, the director of Meta opted for an unusual strategy: she sold stocks throughout her career. Usually, top executives tend to keep most of their shares as a sign of confidence in their company. On the contrary, Sheryl Sandberg was rather a “aggressive and constant salesperson”. Today, we can consider that his strategy paid off.
An average selling price of $79.10 per share
Over the past ten years, Sheryl Sandberg has sold more than 75% of her stock through regular stock sale programs. In total, she sold more than 22 million shares for a total of $1.7 billionaccording VerityData. According to Ben Silverman, Director of Research at VerityData, “her sales over the past decade make her one of the biggest stock sellers of any American company”. A spokesperson for Sheryl Sandberg said she acquired 48 million shares during her time with the company.
The Facebook executive sold most of her shares when the company’s stock price soared. The stock price was pegged at $38 when the company went public in 2012 and peaked at more than $382 per share… The average sale price of Sandberg stock over the last decade is $79.10 per share. His most recent sale was in October 2019. Despite his billionaire status, Sandberg hasn’t shown a penchant for yachts, private jets and dream homes like most tech moguls.