Well, at least we are seeing some good things happen this week. According to Business Insider, Sheryl is about to cash in on joining Facebook early on. When Sandberg joined Facebook in early 2008, employees joining at the “director” level were granted .1% of the company. Employees at the VP level got around 5 times that, or ~.5%. Business Insider estimates that Sandberg probably got about 1.25%. Plus, she built Facebook into a business generating $5 billion per year, worth $55 billion. And on Friday 34 million restricted stock units were vested in Sandberg’s name. At $23.21 per share, the paycheck was worth $790 million. Not a bad way to end a week.
According to Business Insider, Facebook withheld 15 million of these shares for tax purposes.It converted the rest, about 18 million shares, into common stock and granted it to Sandberg – a nice $417 million addition to her stock portfolio.
This makes her quite rich (not that she already wasn’t) but I’m talking like Oprah-rich. Plus, Sheryl is in a select group of women that made their fortunes on their own.
Business Insider’s Nicolas Carlson wrote:
“Sandberg is much more than your typical COO. She runs the ad business. She’s the “adult supervision,” and she’s one of the company’s more public faces. It’s also likely that Facebook had to pay up to get Sandberg when it got her. At the time, Facebook was only a couple years old and its young founder had already blown through two other top lieutenants; Sean Parker and Owen Van Natta. And it’s not like Sandberg didn’t already have a good job: she was running Google’s self-service ad sales organization. She’s also told interviewers that she was being recruited to be CEO at other companies.”
Photo: The New Yorker