Facebook Inc (NASDAQ:FB) Chief Operating Officer Joins Billionaire Club
Facebook Inc (NASDAQ:FB) has in recent memory made a lot of people rich. At the latest day of trading, FB Inc closed the day’s trade on a record high %58.51 in New York. As a result of this latest rise in stock, Chief Operating Officer Sheryl Sandberg has become one of the youngest billionaires in the world. Sandberg has around 12.3 million shares in FB Inc and her stake holds a net value of around $750 million. She made a lot of money selling shares of Menlo Park which is a California based company which went public in 2012. Sandberg now has a big bag of stock options, around 4.7 million stock options. She will also be a part of the annual meeting of the World Economic Forum which is held in Davos, Switzerland.
Why the hype over billionaires
Sandberg and her rise to wealth throw some light on the ever increasing roles billionaires have to play on a global scale. She has been art of the staff for former US treasury secretary Lawrence Summers as well as a donor to the current president, Barrack Obama. Besides that she is also a part of the board at Starbucks and also The Walt Disney Company. To add to all that she has also authored a bestselling book, Lean In. She moved to Facebook in 2008 after she was roped in from Google Inc.
In a research report released on the 7th of Jan by Deutsche Bank AG analyst Ross Sandler, FB has seen as projecting an impressive Q4. This is because it has generated more than $100 million in excess revenue than what consensus had projected. The analyst gave FB a buy rating assuring people that the stronghold that the company has on the mobile platform will continue to give results that favor the social networking giant.
Zuckerberg getting richer
CEO of Facevook, Mark Zuckerberg sold more than $2 billion in stock in the month of December. He donated $1 billion to the Silicon Valley Community Foundation and has added around $12billion to his net worth during the one year.