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Facebook Inc (NASDAQ:FB)’s Sandberg Becomes Billionaire As The Company Hits Record High

Boston, MA 01/22/2014 (wallstreetpr) – Facebook Inc (NASDAQ:FB) closed on a record high, making Chief Operating Officer Sheryl Sandberg one of the U.S. youngest billionaires. The world’s most popular social networking site closed at $58.51 in New York today.

Sandberg owns almost 12.3 million shares of the company, where her stake is valued at around $750 million. She has amassed more than $300 million selling shares of the Menlo Park, California based company since its initial public offering in 2012. She now is the owner of about 4.7 million stock options that began vesting since May 2013. Later in this week, Sandberg will feature in the annual meeting of the World Economic Forum in Davos, Switzerland.

Sandberg’s glorious history

Sandberg’s increasing wealth throws a light on the billionaire’s widening role on the global platform. She has been the staff for former Treasury Secretary Lawrence Summers and has been a donor to the U.S. President Barrack Obama. She is a member in the board of Starbucks Corp. (NASDAQ:SBUX) and The Walt Disney Company (NYSE:DIS). The 44 year old is also the author for the bestseller “Lean In”. Facebook had drawn in the lady from the world’s biggest technology company Google Inc (NASDAQ:GOOG) in 2008.

According to a research report of Jan 7 by Ross Sandler, an analyst at Deutsche Bank AG (USA) (NYSE:DB) in New York, Facebook had projected an impressive fourth quarter. This was mainly from revenue generated through advertisements, which was about $100 million above consensus. Sandler gave a “buy” rating to the company, saying its strong hold on the mobile sector will continue to fetch good reports to the social media.

Zuckerberg continues to gain

Facebook’s Chief Executive Officer, Mark Zuckerberg sold more than $2 billion in stock in December. The 29 year old CEO also donated $1 billion to the Silicon Valley Community Foundation, adding $12.4 billion to his net worth in the year.

Published by Chris Brown

About Me: I have a Phd in Economics Gender: Male Interests: Playing games like cricket, volleyball Favorite Music: hip hop, rock, jazz

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