Sheryl Sandberg is a new billionaire as Facebook shares hit new high

 

The ranks of the world’s most exclusive club were swollen by one new member yesterday as Facebook’s second in command Sheryl Sandberg was hailed as a paper billionaire.

With 12.3m personal shares in the social networking phenomenon which she helped propel to its first profits after being lured from rival Google by founder Mark Zuckerberg six years ago, the 44-year-old mother of two will be updating her financial status courtesy of the tripling in the company’s stock market value, according to an estimate by the Bloomberg Billionaire Index.

After initially slumping in the wake of its public offering, Facebook shares closed this week at a record $58.51 (£35.33). Ms Sandberg, already arguably the most powerful woman in Silicon Valley is now one of the youngest female billionaires on the planet and will this week be mingling with fellow denizens of the global super-elite at the World Economic Forum in Davos, Switzerland.

Facebook declined to comment on its chief operating officer’s net worth which has been routinely estimated at around the billion dollar mark for some time by media profilers extolling the achievements of her stellar career. Facebook’s recent stock market performance – fuelled by her success securing vast revenues from mobile advertising - appears to confirm what many had long been seen as inevitable.

Ms Sandberg, who also sits on the boards of Starbucks and Walt Disney, is reported to have already amassed a fortune in excess of $300m (£180m) after selling Facebook shares following the 2012 public offering. Her residual stake is now valued at $750m (£452m).

Last year her wealth was boosted by a $26.2m (£16m) remuneration package, $25.6m of which was in stock awards - a slight decline on the $31m (£19m) she received the previous year which have made her the highest paid executive at Facebook for two years running.

According to Forbes, there were 1,426 billionaires in the world in 2013 commanding between them an aggregate net worth of $5.6 trillion (£3.4trillion).

Last year’s list included 210 individuals with the requisite 10 figure fortune. The roll call included just 138 women, the wealthiest of whom was 90-year-old L’Oreal heiress Liliane Bettencourt who is reportedly worth $30bn (£18bn) making her the ninth richest person.

Ms Sandberg’s boss Mr Zuckerberg, 29, recently sold more than $2bn (£1.2bn) in stock and donated another $1bn to the Silicon Valley Community Foundation which provides grants to combat inequalities in the San Francisco Bay area.  

David Kirkpatrick, author of The Facebook Effect, which chronicles the history of the company, said Ms Sandberg had been the right person in the right place at the right time.

“She went to Google, moved on to go to Facebook, went to write a book, and she’ll know when to run for political office, and probably win that office,” he said.

Her bestselling Lean In, published last year, was as a manifesto to help women crack glass ceilings in traditionally male-dominated domains of big business and high power by the simple power of self-assertion. It argues: “A truly equal world would be one where women ran half our countries and companies and men ran half our homes.”

Born into a highly educated Jewish family she moved seamlessly in the 1990s from Harvard to management consultancy McKinsey, then the World Bank and finally the US Treasury where she was chief of staff for her mentor Lawrence Summers during the Clinton administration.

She quit Washington following the Republican victory in 2000 moving to California to pursue a career in the burgeoning tech sector. She remains a supporter of President Obama and is married to entrepreneur Dave Goldberg.

Voices
A Russian hunter at the Medved bear-hunting lodge in Siberia
Save the tigerWildlife charities turn to those who kill animals to help save them
News
Davis says: 'My career has been about filling a niche - there were fewer short actors and fewer roles – but now I'm being offered all kinds of things'
PeopleWarwick Davis on Ricky Gervais, Harry Potter and his perfect role
News
i100
Sport
Frank Lampard will pass Billy Wright and equal Bobby Charton’s caps tally of 106 caps against
sportFormer Chelsea midfielder in Etihad stopgap before New York contract
PROMOTED VIDEO
Arts and Entertainment
The first film introduced Daniel Radcliffe to our screens, pictured here as he prepares to board the train to Hogwarts for the first time.
booksHow reading Harry Potter helps children grow up to be gay-friendly
Arts and Entertainment
A scene from Aladdin is performed at the Tony Awards in New York in June
theatreBrit producer Lythgoe makes kids' musical comedy a Los Angeles hit
Sport
Usain Bolt of Jamaica smiles and shakes hands with a competitor after Jamaica won their first heat in the men's 4x100m relay
sport
News
Chancellor George Osborne, along with the Prime Minister, have been 'complacently claiming the economy is now fixed', according to shadow Chancellor Ed Balls
i100... which is awkward, because he is their boss, after all
Life and Style
A small bag of the drug Ecstasy
Health
Life and Style
Floral-print swim shorts, £26, by Topman, topman.com; sunglasses, £215, by Paul Smith, mpaulsmith.co.uk
FashionBag yourself the perfect pair
News
news
News
ebookA unique anthology of reporting and analysis of a crucial period of history
News
Netherlands' goalkeeper Tim Krul fails to make a save from Costa Rica's midfielder Celso Borges during a penalty shoot-out in the quarter-final between Netherlands and Costa Rica during the 2014 FIFA World Cup
newsGoalkeepers suffer from 'gambler’s fallacy' during shoot-outs
News
people
Arts and Entertainment
Standing the test of time: Michael J Fox and Christopher Lloyd in 'Back to the Future'
filmReview: A week late, Secret Cinema arrives as interactive screening goes Back to the Future
Extras
indybest
News
i100
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Financial Analyst - Forecasting - Yorkshire

£300 - £350 per day: Orgtel: Financial Analyst, Forecasting, Halifax, Banking,...

Business Architect - Bristol - £500 per day

£500 per day: Orgtel: Business Architect - Banking - Bristol - £500 per day A...

Regulatory Reporting-MI-Bank-Cardiff-£300/day

£200 - £500 per day + competitive: Orgtel: I am currently working on a large p...

Trainee Recruitment Consultant - Birmingham - Real Staffing

£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...

Day In a Page

Save the Tiger: Meet the hunters tasked with protecting Russia's rare Amur tiger

Hunters protect Russia's rare Amur tiger

In an unusual move, wildlife charities have enlisted those who kill animals to help save them. Oliver Poole travels to Siberia to investigate
Transfers: How has your club fared in summer sales?

How has your club fared in summer sales?

Who have bagged the bargain buys and who have landed the giant turkeys
Warwick Davis: The British actor on Ricky Gervais, how the Harry Potter set became his office, and why he'd like to play a spy

'I'm a realist; I know how hard this business is'

Warwick Davis on Ricky Gervais, Harry Potter and his perfect role
The best swim shorts for men: Bag yourself the perfect pair and make a splash this summer

The best swim shorts for men

Bag yourself the perfect pair and make a splash this summer
Has Ukip’s Glastonbury branch really been possessed by the devil?

Has Ukip’s Glastonbury branch really been possessed by the devil?

Meet the couple blamed for bringing Lucifer into local politics
Dress the Gaza situation up all you like, but the truth hurts

Robert Fisk on Gaza conflict

Dress the situation up all you like, but the truth hurts
Save the tiger: Tiger, tiger burning less brightly as numbers plummet

Tiger, tiger burning less brightly

When William Blake wrote his famous poem there were probably more than 100,000 tigers in the wild. These days they probably number around 3,200
5 News's Andy Bell retraces his grandfather's steps on the First World War battlefields

In grandfather's footsteps

5 News's political editor Andy Bell only knows his grandfather from the compelling diary he kept during WWI. But when he returned to the killing fields where Edwin Vaughan suffered so much, his ancestor came to life
Lifestyle guru Martha Stewart reveals she has flying robot ... to take photos of her farm

Martha Stewart has flying robot

The lifestyle guru used the drone to get a bird's eye view her 153-acre farm in Bedford, New York
Former Labour minister Meg Hillier has demanded 'pootling lanes' for women cyclists

Do women cyclists need 'pootling lanes'?

Simon Usborne (who's more of a hurtler) explains why winning the space race is key to happy riding
A tale of two presidents: George W Bush downs his paintbrush to pen father’s life story

A tale of two presidents

George W Bush downs his paintbrush to pen father’s life story
Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover

The dining car makes a comeback

Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover
Gallery rage: How are institutions tackling the discomfort of overcrowding this summer?

Gallery rage

How are institutions tackling the discomfort of overcrowding this summer?
Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players

Eye on the prize

Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players
Women's rugby: Tamara Taylor adds fuel to the ire in quest to land World Cup

Women's rugby

Tamara Taylor adds fuel to the ire in quest to land World Cup