- Facebook’s operator Sheryl Sandberg earned $7.4 million last week after receiving $401 million in company stock
- Tech blogs are wondering if employees will begin leaving the company after a huge $3.1 billion payday
- Facebook’s stock closed on Monday at $21.16 a share, down from $45 when the company went public
PUBLISHED:23:05 EST, 5 November 2012| UPDATED:23:05 EST, 5 November 2012
She is certainly well on her way to becoming the world’s richest woman.
Sheryl Sandberg, Facebook’s chief operating officer, just took home a fat bundle of cash after receiving $401 million in company stock and selling 2% of her shares for $7.4 million.
Her big reward was part of a $3.1 billion dollar payday at the company last week after restrictions on insider trading expired.
43-year-old Sandberg sold 339,512 of her shares at about $21.10 each on Halloween, according to Bloomberg News. She still owns close to 20 million shares of company stock.
The big question suddenly buzzing throughout the tech community is whether Sandberg and other employees will stay at the company for much longer.
Facebook workers can now pursue life-long dreams they put on hold to work there without any financial concerns, TechCrunch notes.
Facebook’s stock has hovered around $21 a share since July, down more than 50 per cent from a high of $45 when the company went public in May.
Inside look: Facebook employees at work inside the company’s headquarters.
Sandberg joined Facebook in 2008 and helped build it into the world’s largest social networking site worth more than $50 billion. Some estimates put her total net worth around $2 billion.
Prior to joining Facebook Sandberg worked at Google as vice president of operations and online sales. Prior to working at Google she served as chief of staff for the U.S. Treasury Department.
Facebook’s first employees, including 28-year-old founder and chief executive Mark Zuckerberg, have been at the company for almost nine years now.
Zuckerberg has promised to not sell any of his Facebook shares before September 2013
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