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Brin, Page To Sell 10 Million Shares Of Google Stock

Five-year plan will see voting stake reduced to under 50 percent

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Sergey Brin and Larry Page are going to become much closer to their financial advisors over the next five years.  Google disclosed in a regulatory filing late last week that the cofounders each intend to sell about 5 million shares of the company’s stock during that period of time.

Google LogoTo address one possible concern: This is no way signals that Brin and Page are abandoning Google.  Even after the 10 million shares are sold, the pair will still own 47.7 million shares between them, so it’s not like they’re cutting all ties and going home.

Also, even though their voting stake will be reduced from 59 percent to 48 percent due to this move, Eric Schmidt controls another 10 percent, so there’s no danger of the three Google execs getting overthrown.

Still, the development is a big deal.  Miguel Helft calculated, "The sales, if completed, would provide each of the founders $2.75 billion based on Friday’s closing price of $550.01."

Google’s stock is down 1.15 percent so far this morning.  The Dow and Nasdaq are up 0.71 percent and 0.58 percent, respectively.

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Brin, Page To Sell 10 Million Shares Of Google Stock
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  • http://www.duran-seo.co.il Duran seo

    i honestly believe that larry page and sergey brin are truly pure in their intentions to do good to the internet and the world. this concerns me a lot.

    google is extremely powerful and this power if falls into the worng hands may lead to a worldly catastrophy. it is so easy to lose control and let greed go over ones head.

    i can just hope that the godness of sergery brin and larry page will remain within googles walls or this may lead to serious problems in the future.

  • http://www.blitzpenny.com Penny Bid Auctions

    I think it is a wrong turn for big G. rather they still have 58% shares(brin+page=48% & eric=10% as given above) but i still feel that brin and page should control the google without involvement of eric. Rather may be a good move for them in order to generating the revenue but in the near future they will feel this thing certainly.