Facebook Inc (NASDAQ:FB) Chief Operating Officer Joins Billionaire Club

Posted by Chris Bell January 23, 2014 0 Comment 1491 views


 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.



About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

View all post by Chris Bell Visit author's website

Write Your Comment