Trouble closing the wallet, Joe? EMC boss Tucci's cloudy shares rain $10m
Cloudfather still sitting on shares worth $44m
EMC CEO and chairman Joe Tucci has earned himself a cool $10.5m after selling hundreds of thousands of shares in the storage biz.
Tucci's transaction consisted of selling 192,000 EMC shares before exercising his right to buy 207,000 more from the company at a reduced price. He then disposed of those shares at their full market value.
After the selloff, Tucci still owns 1.7 million shares in EMC. Going by the $26.42 which each share fetched last week, the firm's CEO is potentially sitting on $44m worth of shares.
Weather forecasts for Hopkinton, the Massachusetts hometown of EMC, show that over Wednesday 31 July and Thursday 1 August – the dates when Joe sold his shares – there were thunderstorms over the town. Perhaps ol'Joe's windfall may have been the result of a wet Thursday afternoon with nothing better to do.
What could Tucci do with $10,000,000? El Reg suggests this list of ways to spend a million bucks in a day as a good starting point. ®