Sheryl Sandberg leaves Meta as one of the most highest-profile and maximum a hit ladies in tech — and after greater than $1.7 billion in inventory gross sales.
Sandberg introduced Wednesday that she is stepping down from her function as leader working officer after 14 years at Meta, previously referred to as Fb. Sandberg will stay at the social media corporate’s board.
Sandberg’s wealth totals an estimated $1.6 billion, in keeping with Forbes, making her the second one wealthiest girl in tech after Meg Whitman. Whitman prior to now held the highest task at Hewlett Packard Endeavor and is value an estimated $3.2 billion, in keeping with Forbes.
Sandberg may be one of the most uncommon non-CEOs and non-founders to turn into a billionaire.
Whilst many company executives generally tend to carry directly to the majority in their stocks as a display of self belief of their firms, Sandberg has been an competitive and constant supplier of Fb (now Meta) inventory.
During the last decade, Sandberg has offered over 75% of her after-tax stocks thru incessantly scheduled percentage sale methods, in keeping with analysis companies that monitor the gross sales. In overall, she offered over 22 million stocks for greater than $1.7 billion, in keeping with analytics company VerityData. Relying at the remedy of choices and limited inventory gross sales, the full may just if truth be told be upper, in keeping with every other analytics company, Good Insider, which calculates her inventory gross sales at nearer to $1.9 billion.
“Her gross sales over the last decade makes her one of the most largest insider dealers at any U.S. corporate,” mentioned Ben Silverman, director of analysis at VerityData.
A spokesperson for Sandberg mentioned she got 48 million limited inventory gadgets, choices and stocks throughout her time on the corporate. About 20 million have been offered for taxes, and she or he offered 22 million of the remainder 28 million thru a 10b5-1 pre-schedule promoting program.
Sandberg cashed out stocks at quite a lot of costs as Fb stocks soared. The inventory priced at $38 according to percentage within the corporate’s preliminary public providing in 2012 and peaked above $382 according to percentage in September.
Sandberg’s reasonable inventory sale worth over the last decade used to be $79.10 according to percentage, in keeping with VerityData, together with her most up-to-date sale in October 2019.
Regardless of her billionaire standing, Sandberg hasn’t proven the penchant for yachts, non-public jets and seaside houses proven through different tech tycoons. Consistent with media experiences, in 2013 she moved right into a newly constructed, 9,200-square-foot house in Menlo Park, California, with regards to Fb’s headquarters, that includes a wine room, gymnasium, waterfall and sun panels at the roof.
Sandberg has additionally proficient one of the vital proceeds of her gross sales to charity. In 2016, she gave $107.2 million to her donor-advised fund at Constancy Charitable. On the time she did not say which charities she would fund, however has mentioned she plans to toughen methods that build up alternatives for girls and women.
Sandberg’s spokesperson mentioned she had made overall reportable presents of four.9 million stocks, with 2.8 million stocks to her donor-advised fund and a pair of.1 million irrevocable transfers to trusts for beneficiaries. Good Insider estimates Sandberg has given away $484 million in stocks.
In pronouncing her departure on Wednesday, Sandberg mentioned the verdict to go away Meta will permit her to center of attention extra on her philanthropic paintings.
Sandberg has additionally been an lively political donor, contributing to Democratic applicants and regularly internet hosting Democratic fundraisers.
She nonetheless owns just about 1.5 million stocks, with a present marketplace worth of about $290 million, in a revocable agree with. She additionally has 333,642 stocks of unvested limited inventory, a few of which might vest sooner than she leaves.
Meta stocks closed on Wednesday at $188.64.
