What is Sheryl Sandberg's net worth? COO of Facebook steps down from Meta after 14 years!
Facebook saw its first big change when it was first renamed, Meta. Now, another big change is going to fall upon the billion-dollar company in the upcoming fall as Sheryl Sandberg, the COO of Facebook, is going to step down from her position. She has worked for the company for 14 years and it feels like the end of an era. Sandberg broke the news on Wednesday, June 1, via a Facebook post, which only seems fitting.
"Sitting by Mark’s side for these 14 years has been the honor and privilege of a lifetime," said Sandberg. She called Mark a "true visionary and a caring leader." The mastermind behind the groundbreaking platform commented, "The end of an era. In the 14 years, we've worked together, you've architected our ads business, hired great people, forged our management culture, and taught me how to run a company." Through her Facebook post, she narrated her story of how she first met Mark at a holiday party and how she's proud of everything the company has built.
RELATED ARTICLES
Instagram under fire for allowing accounts that act as 'shop windows' for pedophiles
Jeff Bezos, Mark Zuckerberg blasted for 'hanging out' with Bill Gates at 'billionaire summer camp'
Sandberg used to work with Google before jumping ships but has earned a fortune with Meta. As Meta's COO for 14 years, you leave some pretty big shoes to be filled. This responsiblity will be taken over by Javier Olivan, Chief Growth officer, as and when Sandberg leaves. She met Mark when he was just a 23-year-old Harvad dropout and built something monumental. Using her knowledge and being a Google veteran, she helped turn Facebook into this behemoth and grow it to even include Instagram, Whatsapp, and Messenger. Moreover, Meta's shares fell by 4% post her announcement. Sandberg talked about giving back to the community and how Facebook/Whatsapp etc. has helped people from all around the world. She accepted the fact that her job at Meta doesn't leave her with much time. Now that she is stepping down, she will be focusing more on philanthropic work, which is "more important" to her "than ever given how critical this moment is for women." She also mentioned her marriage with Tom and how she can focus on parenting better.
What is Sherly Sandberg's net worth?
Needless to say, Sandberg is one of the most influential women in the tech industry, and for all the right reasons. According to Forbes, her net worth is estimated at a whopping $1.6 billion, making her the world's 1,823rd wealthiest person. The 52-year-old billionaire was Facebook's first female on the Board of Directors after the company went public in May 2012. According to public filings, she has sold $1.5 billion worth of stocks ever since the company went public. By November 2018, she owned 0.06% of the company's equity which. In 2013, she had sold 2.4 million Facebook shares. In the next year itself she sold more than half of her shares, leaving her with 17.2 million only. This represented a stake of 0.5% in the company with a total worth of about $1 billion.
Back in 2009, she bought a house in Menlo Park, California, for $2.9 million according to Celebrity Net Worth with her husband Dave Goldberg who later died in 2015. The duo broke down the entire structure and renovated it give a more bunker-like feeling. While it may seem simple, the house is valued at $11 million as of 2020. In 2014, she sold a property in Atherton, California for $9.25 million, which is at a profit because she bought the place in 2004 for $7.995 million.
The COO also knows how to be in the news every now and then. This year, April 2022, she stirred the news as it was reported that she pressurized the online version of 'Daily Mail' to not publish an article related to her former boyfriend, Activision Blizzard CEO Bobby Kotick. It was reported that she teamed up with Facebook and Activision employees to press down on the tabloid in 2016 and 2019 to not do an article on the 2014 incident where Sandberg got a restraining order against Kotick. The outlet didn't run the story and Meta eventually launched an investigation to gauge whether Sandberg violated corporate protocols. A source close to Sandberg told the 'Journal' that she didn't use her position to influence the tabloid. She was also linked with the Cambridge Analytica Scandal where it was alleged that she worked with the company to leak user data.