Wednesday 22 February 2017

Facebook's Irish staff in €120m share windfall

Published 25/10/2015 | 02:30

Key Facebook executives in Ireland have made millions from the share spike
Key Facebook executives in Ireland have made millions from the share spike

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.

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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

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