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Former Google CEO and current Executive Chairman, Eric Schmidt plans on selling 40% of his stake in the company for undisclosed reasons. In December, he had 7.6 million shares equating to a 2.3% ownership. Doing the math, 40% of these shares is 3.2 million shares, which at Google’s current stock price would be about $2.5 billion cash money. After he sells these, he’ll still have 4.4 million shares valued at about $3.5 billion.

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Google’s Monday closing stock price at $782.42 has risen 920.49% after $85 IPO in August 2004. Larry Page and Sergey Brin have 8.7% and 8.7% stakes respectively valued at around $20 billion and are the only execs who own more stock that Schmidt. That’s a lot of Benjamins.

 

Source: HuffPo

  • davey0728

    So my question is why is he selling his stock? Maybe Google is going under??? HHAHAHAHAHAHAHAHHAHAHAHAH…OH GOD I CRACK MYSELF UP!!!! of course that’s never gonna happen.

  • androidEyez

    He wants that cash in bank why not he still has plenty of stocks left probably for his kids and immediate family creating his will ?? Who knows rich people talk I couldn’t relate sadly!!