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Sheryl Sandberg: NEW Billionaire Thanks to Facebook

Sheryl Sandberg: NEW Billionaire Thanks to Facebook
Image by www.csmonitor.com

 

Sheryl Sandberg became one of the youngest billionaires after Facebook stocks jumped to a rock high. On Tuesday the Facebook’s price per share closed at $58.51 in New York City and it tripled the social network’s lowest share price in the $17 range in September of 2012. It’s significantly higher than its IPO price of $38.

 

A value percentage of Facebook owned by Bono’s investment company Elevation is $2.3 billion. It’s unclear how large Bono’s stake in Elevation is really worth. He’s one of the six founding partners within the company.

 

Elevation invest in media, technology, music companies, and bought about 44.7 million shares in Facebook worth $210 million between 2009 to 2010 before the social network went public.

 

According to influential investing blog 24/7 Wall Street, Elevation sold about 11percent of its stake in the IPO netting about $160 million. Before buying into Facebook the company had a reputation as being the worst run institutional fund of any size in the United States.

 

Ms. Sandberg’s personal fortune exceeds $1 billion with the rise of price per share this week. Facebook CEO and author of the book Lean In owns about 12.3 million shares of the California-based company. Her stake in the company is worth $750 million. She also has collected over $300 million selling shares since the company’s 2012 IPO. As a result, the 44-year-old is one of the youngest female billionaires in the world.

 

Ms. Sandberg rise to wealth is very broad on a global scale. The Harvard graduate and one-time chief of staff for former treasury secretary Lawrence Summers is a donor to President Barack Obama and sits on the board of Disney. She left Google in 2008 and stepped down from the board of Starbucks in 2012.

 

 

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