Sandberg at Facebook London, April 2013
|Born||Sheryl Kara Sandberg
August 28, 1969
Washington, D.C., U.S.
|Residence||Menlo Park, California|
|Alma mater||Harvard University (AB, MBA)|
|Occupation||COO of Facebook|
|Salary||US$15.5 million (2014)|
|Net worth||US$1.31 billion (December 2015)|
|Board member of||The Walt Disney Company
Women for Women International
Center for Global Development
|Spouse(s)||Brian Kraff (m. 1993; div. 1994)
Dave Goldberg (m. 2004; died 2015)
|Children||2 (with Goldberg)|
Sheryl Kara Sandberg (//; born August 28, 1969) is an American technology executive, activist, and author. She is the Chief Operating Officer of Facebook. In June 2012, she was elected to the board of directors by the existing board members, becoming the first woman to serve on Facebook's board. Before she joined Facebook as its COO, Sandberg was Vice President of Global Online Sales and Operations at Google and was involved in launching Google's philanthropic arm Google.org. Before Google, Sandberg served as chief of staff for United States Secretary of the Treasury Lawrence Summers.
In 2012 she was named in the Time 100, an annual list of the 100 most influential people in the world according to Time magazine. As of June 2015[update], Sandberg is reported to be worth over US$1 billion, due to her stock holdings in Facebook and other companies.
Early life and education
Sandberg was born in 1969 in Washington, D.C. to a Jewish family, the daughter of Adele (née Einhorn) and Joel Sandberg, and the oldest of three children. Her father is an ophthalmologist and her mother was a college teacher of the French language. Adele taught English as a second language and founded Ear Peace-Save Your Hearing, a nonprofit that teaches teens how to prevent hearing loss. She dropped out of a Ph.D. program when she was pregnant with Sheryl and concentrated on raising her children. Sheryl's maternal grandmother, Rosalind Einhorn, grew up in a poor family in a crowded apartment in New York City, finished high school in spite of being pulled out during The Great Depression, went on to community college, graduated from U.C. Berkeley, and later saved her family business from financial ruin. Sandberg's family was active in helping Soviet Jews make aliyah to Israel during refusenik era and attended rallies during the weekends. She and her siblings had Soviet Bar and Bat Mitzvah twins. Her parents were detained and interrogated in Kishinev and later expelled from the USSR.
Her family moved to North Miami Beach, Florida, when she was two years old. She attended North Miami Beach High School, where she was "always at the top of her class", and graduated ninth in her class with a 4.646 grade point average. She was sophomore class president, became a member of the National Honor Society, and was on the senior class executive board. Sandberg taught aerobics in the 1980s while in high school.
In 1987 Sandberg enrolled at Harvard College. She graduated in 1991 summa cum laude with a B.A. in economics and was awarded the John H. Williams Prize for the top graduating student in economics. While at Harvard, she co-founded an organization called Women in Economics and Government. She met then-professor Larry Summers, who became her mentor and thesis adviser. Summers recruited her to be his research assistant at the World Bank, where she worked for approximately one year on health projects in India dealing with leprosy, AIDS, and blindness.
After graduating from business school in the spring of 1995, Sandberg worked as a management consultant for McKinsey & Company for approximately one year (1995-1996). From 1996 to 2001 she again worked for Larry Summers, who was then serving as the United States Secretary of the Treasury under President Bill Clinton. Sandberg assisted in the Treasury's work on forgiving debt in the developing world during the Asian financial crisis.
When the Republicans swept the Democrats out in November 2000, Sandberg left her job. She then moved to Silicon Valley in 2001 and joined Google Inc., serving as its Vice President of Global Online Sales and Operations from November 2001 to March 2008. She was responsible for online sales of Google's advertising and publishing products as well as for sales operations of Google's consumer products and Google Book Search.
In late 2007, Mark Zuckerberg, co-founder and chief executive of Facebook, met Sandberg at a Christmas party held by Dan Rosensweig; at the time, she was considering becoming a senior executive for The Washington Post Company. Zuckerberg had no formal search for a COO, but thought of Sandberg as "a perfect fit" for this role. They spent more time together in January 2008 at the World Economic Forum in Davos, Switzerland. In March 2008, Facebook announced hiring Sheryl Sandberg away from Google for the role of COO.
After joining the company, Sandberg quickly began trying to figure out how to make Facebook profitable. Before she joined, the company was "primarily interested in building a really cool site; profits, they assumed, would follow." By late spring, Facebook's leadership had agreed to rely on advertising, "with the ads discreetly presented"; by 2010, Facebook became profitable. According to Facebook, she oversees the firm's business operations including sales, marketing, business development, human resources, public policy, and communications.
Sandberg's executive compensation for FY 2011 was $300,000 base salary plus $30,491,613 in FB shares. According to her Form 3, she also owns 38,122,000 stock options and restricted stock units (worth approx. $1.45 billion as of mid-May 2012) that will be completely vested by May 2022, subject to her continued employment through the vesting date.
In 2012 she became the eighth member (and the first female member) of Facebook's board of directors.
In October 2012, Business Insider reported that stock units (appx. 34 million) vested in Sandberg's name accounted for nearly US$790,000,000. Facebook withheld roughly 15 million of those stocks for tax reasons, leaving her with nearly US$417,000,000. The media reported on August 12, 2013 that she sold 2.4 million shares in the company worth about US $91 million — 5 percent of her total stake in the company.
In April 2014, it was reported that Sandberg had sold over half of her shares in Facebook since the company went public. At the time of Facebook's IPO she held approximately 41 million shares in the company; after several rounds of sales she is left with around 17.2 million shares, a 0.5% stake in the company, worth about one billion dollars.
In 2009 Sandberg was named to the board of The Walt Disney Company. She also serves on the boards of Women for Women International, the Center for Global Development and V-Day. She was previously a board member of Starbucks with a $280,000 annual salary, Brookings Institution and Ad Council.
Other work and ventures
In 2008 Sandberg wrote an article for The Huffington Post in support of her mentor, Larry Summers, who was under fire for his comments about women. She was a keynote speaker at the Jewish Community Federation's Business Leadership Council in 2010. In December 2010, she gave a TED speech titled "Why we have too few women leaders." In May 2011 she gave the Commencement Address at the Barnard College graduation ceremony. She spoke as the keynote speaker at the Class Day ceremony at the Harvard Business School in May 2012. In April 2013, she was the keynote speaker for Colgate University's second annual Entrepreneur Weekend. In 2015 she signed an open letter which the ONE Campaign had been collecting signatures for; the letter was addressed to Angela Merkel and Nkosazana Dlamini-Zuma, urging them to focus on women as they serve as the head of the G7 in Germany and the AU in South Africa respectively, which will start to set the priorities in development funding before a main UN summit in September 2015 that will establish new development goals for the generation.
Sandberg released her first book, Lean In: Women, Work, and the Will to Lead, co-authored by Nell Scovell and published by Knopf on March 11, 2013. It is about business leadership and development, issues with the lack of women in government and business leadership positions, and feminism. As of the fall of 2013, the book sold more than one million copies and was on top of the bestseller lists since its launch.
Lean In is a book for professional women to help them achieve their career goals and for men who want to contribute to a more equitable society. The book looks at the barriers preventing women from taking leadership roles in the workplace, barriers such as discrimination, blatant and subtle sexism, and sexual harassment. She also examines societal barriers such as the fact that women still work the double day and the devaluing of work inside the home as opposed to work outside the home. Along with the latter there are the barriers that women create for themselves through internalizing systematic discrimination and societal gender roles. Sandberg argues that in order for change to happen women need to break down these societal and personal barriers by striving for and achieving leadership roles. The ultimate goal is to encourage women to lean in to positions of leadership because she asserts that by having more female voices in positions of power there will be more equitable opportunities created for everyone.
|“||A truly equal world would be one where women ran half our countries and companies and men ran half our homes.||”|
In March 2014, Sandberg and Lean In sponsored the Ban Bossy campaign, a television and social media censorship advocacy campaign designed to ban the word bossy from general use due to its perceived harmful effect on young girls. Several video spots with notable spokespersons including Beyonce, Jennifer Garner, and Condoleezza Rice among others were produced along with a web site providing school training material, leadership tips, and an online pledge form to which visitors can promise not to use the word.
Sandberg addresses both of these issues in the introduction of her book, stating that she is "acutely aware that the vast majority of women are struggling to make ends meet and take care of their families" and that her intention was to "offer advice that would have been useful long before I had heard of Google or Facebook."
Sandberg first married at age 24 and divorced a year later. In 2004, she married Dave Goldberg, then an executive with Yahoo! and later CEO of SurveyMonkey. The couple has a son and a daughter. Sandberg and Goldberg frequently discussed being in a Shared Earning/Shared Parenting Marriage.
|Sheryl Sandberg: Why we have too few women leaders, TED|
|Barnard College Commencement Speech, Barnard College|
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- On the list of 50 "Women to Watch" by The Wall Street Journal.
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- In 2012, she was named in Time 100, an annual list of the 100 most influential people in the world assembled by Time.
- Lean In was shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award (2013).
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