Saturday, January 23, 2010

Google founders to sell stock, cede majority control by 2014 | Relevant Results - CNET News

Maybe they’ll both make generous contributions to the Bill & Melinda Gates Foundation

"Today, we disclosed that Larry and Sergey have entered into plans to sell 5 million Google shares, each over the next five years--these shares represent about 17 of their overall Google holdings," Google said in an e-mailed statement. "They are both as committed as ever to Google and are integrally involved in our day-to-day management and product strategy. The majority of their net worth remains with Google. These pre-arranged stock-trading plans were adopted in order to allow Larry and Sergey to sell a portion of their Google stock over time as part of their respective long-term strategies for individual asset diversification and liquidity."

Google founders to sell stock, cede majority control by 2014 | Relevant Results - CNET News

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