Eric Schmidt To Sell Around 42% Of His Google Shares

Google Executive Chairman Eric Schmidt is selling around 42% of his shares in the company.  Based on the current stock price, the 3.2 million shares that he is selling would be worth $2.5 billion.  As of this past December, Schmidt was carrying around 7.6 million shares in the company, which is about a 2.3% stake in the whole company.

He would still have 4.4 million shares of Google stock worth about $3.5 billion if he does end up selling the 3.2 million shares throughout 2013.  Google co-founders Larry Page and Sergey Brin are the only company executives that have more stock than Schmidt.

Page has an 8.7% stake and Brin has an 8.5% stake.  Each of their stakes are worth around $20 billion.  Schmidt was Google’s CEO for a decade before Page took over in 2011.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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