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 +AmitChowdhry