To The Moon

Sheryl Sandberg is stepping down from her role as Chief Operating Officer at Meta after 14 years. 

Sandberg joined $Meta Platforms, Inc.(FB)$ in 2008 as COO. She is the general manager of almost all non-technical affairs. She was responsible for the company's organizational structure design, core revenue business, key employee recruitment and other important matters. Zuckerberg called Sandberg a "good friend and partner."

Photo by Kevin Dietsch/Getty Images

Sandberg said that he only planned to work at Facebook for five years, but did not expect to work for 14 years. She said she was “not entirely sure what the future will bring” but that she wished to focus more on her philanthropic endeavours.

Sheryl's exit Facebook means a lot...

Turn Facebook into an advertising juggernaut and one of the most powerful companies in the tech industry.

Since its inception, Facebook has grown tremendously thanks to Zuckerberg leading a technical team. However, as Zuckerberg said, the commercialization of Facebook has been a very painful topic in the early days. 

On Christmas Day in 2007, at a party at the house of former Yahoo executive Dan Rosensweig, Sandberg and his future "boss" Zuckerberg met for the first time and had a good conversation.

Sandberg, a Harvard graduate. Before that she worked for then US Treasury secretary Lawrence Summers under then-president Bill Clinton and later grew Google’s advertising business as its vice-president of global online sales and operations. She single-handedly built the search engine giant's online advertising business. In addition to AdWords, she also managed a lot of Google's consumption, sales and operation of the company's products. Sandberg has grown Google's advertising and sales teams from 4 to 4,000.

Sandberg's experience and skills are a perfect match for Zuckerberg's desire to grow Facebook's revenue and transform the company. 

Under Sandberg's leadership, Facebook and company's other array of social products were reinvented as a potent advertising machine, earning huge revenue and supporting Facebook's successful IPO. Today, more than 3 billion users use Meta's products, and more than 200 million businesses have created Facebook/Instagram storefronts.

Without Sandberg, perhaps Facebook's fate would have been more like the one-hit social network/social product company. It could even be said that Sandberg single-handedly ensured the long-term survival of Google and Facebook, two iconic Silicon Valley companies. While engineers and product managers are responsible for the technology, Sandberg's task is to support the company. She had to make sure that the company can develop profitable products/technologies/tools, and make enough money to continue to support this group of people doing cool things.

Sheryl Sandberg Early Trades:

• COO Sheryl Sandberg sold 55,000 shares of FB stock on 08/14/2019 at the average price of $181.62.
• COO Sheryl Sandberg sold 55,000 shares of FB stock on 07/25/2019 at the average price of $200.81.
• ...
• Over the last 15 years, she sold FB stock worth over $2,033,729,952.

The estimated Net Worth of Sheryl Sandberg is at least $2.34 Billion dollars as of 15 May 2022.

Ms. Sandberg owns over 51,140 units of Meta worth over $282,130,927.

In addition, she makes $27,144,100 as Chief Operating Officer and Director at Meta Platforms Inc. There are no executives at Meta Platforms Inc getting paid more.

What is the salary of Sheryl Sandberg?

The Change

Zuckerberg called the change an “end of an era” and said that he doesn’t plan to replace Sandberg’s exact role in the company’s structure. His current chief growth officer Javier Olivan, already one of the company’s most powerful but lesser-known executives, will take over as COO in what Zuckerberg says is a “more traditional” COO role. That move, combined with Meta’s chief lawyer and HR executive now reporting directly to Zuckerberg, further consolidates power under his control.

More recently, Zuckerberg has rebranded the company ticker from Fb to Meta and is investing heavily in taking its social technology beyond 2D to build the metaverse through virtual and augmented reality. The leave of Sandberg also means the transition from an advertising juggernaut to build the metaverse.

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