Bill Gates sold 5 million shares on Feb. 2nd and another 5 million shares on Feb. 3rd of Microsoft Corporation (NASDAQ:MSFT) stock according to an SEC filing. Gates sold about 90 million shares in the last year, bringing his stake in the company at about 13% based on common stock.
In the last year, Gates cut his interest in the company to about 22%. Gates now has about 591 million Microsoft shares, or 7% of the 8.4 billion shares outstanding and he still remains the largest single stockholder. The reason why Gates is selling his shares is so that he can diversify his investments. Gates is also heavily involved in philanthropy through the Bill and Melinda Gates foundation.