Sheryl Sandberg bags £59m but hangs onto huge Facebook stake

AFTER more than a year of stock market wobbles, Facebook shares have recently climbed back to their float price of $38, to the great relief of investors and the banks that advised on the May 2012 debut.

For chief operating officer Sheryl Sandberg the stock’s return to the Plimsoll line set by the float has brought more good news, in the form of a $91m (£58.8m) windfall.

Sandberg sold more than 2.3m Facebook shares in the last week at and average price of $38 each, her biggest disposal since the IPO.

Sandberg has no control over when her shares are sold on, thanks to a pre-arranged trading plan, and the 25m shares she continues to hold mean the disposal is not about severing ties. And she is unlikely to be selling down her stake to pay the broadband bill; her book on women in business, Lean In, has spent 21 weeks and counting on the New York Times Best Sellers list.