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Ms. Sandberg, COO of social media giant Facebook has seen her personal fortune pass billion dollar mark as shares in the social media giant just keep climbing.
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It was a happy day for many people across the world yesterday when shares in Facebook rose to a record level of $58.51 on the New York stock exchange after the weekend. That record breaking piece of news was especially welcome for Sheryl Sandberg, who currently holds around 12 million shares in the world’s most popular social-media web site, which now have a total value in the region of $750 million.
Add that to the more than $300 million that Ms. Sandberg has deposited in her bank after selling shares blocks at various intervals since the company’s 2012 initial public offering. It doesn’t take a financial genius to figure out that at just 44-years of age, Sheryl can wear the mantle of being one of the youngest female billionaires in the world, and a self made one at that.
According to Facebook observers Sheryl Sandberg is indeed worthy of her billionairess status, as it was her marketing ability and foresight that formed the master plan that saw Facebook eventually figure out how to monetize the website and by doing so taking maximum advantage of its billion or more subscribers.
The chances are that Ms. Sandberg’s will take another value boost when Facebook’s fourth quarter figures are released sometime in February, with most industry experts predicting that they will have enjoyed another excellent quarter with advertisement revenue expected to be even higher than the previous quarter, which hit $5.28 billion, up $1.7 billion for the same quarter in 2012, bringing in profits of $2 billion.
Facebook shares were initially valued at $38 after the Facebook IPO, plummeting to $20 in August and rising steadily to reach $58 per share.
While this dramatic rise has made Sheryl Sandberg a very rich woman indeed, her personal fortune fades into insignificance when compared with Facebook founder Mark Zuckerberg, who even before reaching the ripe old age of thirty, has accumulated a personal fortune of around $20 billion, and that after he recently donated $1 billion to the Silicon Valley Community Foundation.
Now the world’s 23rd wealthiest person, Zuckerberg’s net worth increased by over 150% ($12 billion) in 2013, and who would bet that it won’t rise by the same percentage level in 2014, along with the fortunes of Sheryl Sandberg and other members of the Facebook inner circle, Dustin Moskovitz, Eduardo Saverin and Chris Hughes who is now reckoned to be worth around $7 billion, making him the youngest multi billionaire on the planet.
Sheryl Sandberg graduated from the Harvard Business School, with a Masters degree in economics.
Sheryl began her professional career as a management consultant for McKinsey & Company, before the meeting her professional association with Larry Summers, by then United States Secretary of the Treasury in the administration of President Bill Clinton. From 1996 to 2001, Sandberg held the role of Summer’s Chief of Staff, playing a major part in the Treasury’s mission of forgiving debt in the developing world.
Ms. Sandberg left the Treasury to join Google Inc. in 2001, remaining there until early 2008, when she was appointed by Facebook to become their COO.
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