Feeds

'Larry and Sergey' to offload 10m Google shares

AKA $5.5 billion

Next gen security for virtualised datacentres

Google co-founders Sergey Brin and Larry Page each plan to sell 5 million shares of their common stock in the company over the next five years.

According to an SEC filing, this is part of their respective "long-term strategies for individual asset diversification and liquidity."

Larry and Sergey - as the filing actually refers to them - currently hold 57.7 million shares of Class B Google common stock. That represents roughly 59 per cent of the voting power of the company’s outstanding capital stock.

After selling 10 million shares, their voting power would drop to 49 per cent. But when you toss in the stock held by CEO Eric Schmidt, the Google holy trinity - who have vowed to work together until 2024 - will still control the majority of the company's voting shares.

Schmidt holds about 12 per cent of Google's common stock.

Brin and Page adopted their new stock-trading plans on November 30, after the completion of a five-year plan they adopted when the company went public in 2004.

As of today, 5 million shares of Google stock are worth about $2.75 billion. ®

Build a business case: developing custom apps

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Broadband slow and expensive? Blame Telstra says CloudFlare
Won't peer, will gouge for Internet transit
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Best practices for enterprise data
Discussing how technology providers have innovated in order to solve new challenges, creating a new framework for enterprise data.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?