Facebook's Irish staff in €120m share windfall
Published 25/10/2015 | 02:30
Facebook's 500 Irish staff may be sitting on a €120m paper fortune as shares in the social media behemoth burst through the $100 mark last Friday, valuing the company at just over €250bn.
Facebook hit the €250bn valuation faster than any other company in history.
Key Facebook executives in Ireland have made millions from the share spike. Head of international finance Shane Crehan holds shares worth €2.85m, according to most recent filings.
Between 2011 and the end of 2013, Facebook's Irish staff received €34m in share-based payments. Based on valuations from each of those years, those shares could be worth as much as €120m last week or an average of about €240,000 for the staff employed by the company over that period. Facebook plans to double staff numbers to 1,100 this year.
Sunday Indo Business