Jan
26
2010
For Sale: 10 Million Shares of Google
© Freedom To Marry
A Securities and Exchange Commission says that Google co-founders Larry Page and Sergey Brin plan to steadily sell off up to 10 million shares of Google stock over the next five years. At today's prices, that about five and a half billion dollars worth of stock.
Techcrunch brought the SEC filing to my attention.
Technically, the sale would mean that Page and Brin no long had a controlling interest in Google.
They would continue to be the largest shareholders, but would not be able to control the outcome of any shareholder vote as they do today. They, of course, could decide to stop selling just short of losing control. They also could probably find the other 2 percent of votes if they ever need it from CEO Eric Schmidt or a collection of other Google employees and loyal investors.
It will be interesting to see if the sale makes any real, practical difference in the way Google operates.
