Google’s chairman selling off more than 40% of holdings this year
In a filing made on Friday, Google noted that Mr. Schmidt will sell about 3.2 million shares of stock through 2013 in what has been termed as “a routine diversification of assets.” Based on Friday’s close of Google stock at $785 per share, that comes in a tad over $2.5 billion.
Google’s executive chairman sold a bunch of stock during 2012 as well, raking in a little over $1 billion dollars in the process. With this year’s sales, Schmidt will have reduced his holding in Google by more than half in just two years. Despite that, he will still own 1.3% of the company, and hold 5% voting power since some of his shares carry that weight.
For the naysayers that wonder about what Schmidt knows that we do not, he did not sell any stock from 2008 to 2010 and the company’s share price has risen nearly 30% over the past year. It looks pretty clear that he is just cashing in some holdings for whatever purposes he deems fit. $3.5 billion-plus over a couple years, maybe he wants to put a pool in at the house or have some landscaping done…
source: The Wall Street Journal
1. ScottSchneider (Posts: 319; Member since: 06 Dec 2011)
Probably he wants to be like Duck McScrooge... Well.. Its all his...
14. loyals (Posts: 129; Member since: 10 Nov 2012)
why do u think he's sellin if its a good time. the price goes down when the volume of shares selling are more and it goes up if someone is trying to invest by buyin thier shares. so apply basic logic n see ! it may be a bad sign or may be not !
3. papss (unregistered)
It does seem odd and we all know you don't sell that much for no reason..hell, maybe Charle Sheen got him hooked on coke and now he has a habit
4. lubba (Posts: 1310; Member since: 17 Jan 2011)
I don't know why this guy is garnishing so much attention. You hardly here anything about the CEO.
5. BattleBrat (Posts: 1096; Member since: 26 Oct 2011)
He is going to buy some Apple stock since it is so cheap LOL
6. wendygarett (unregistered)
According to the anti-competition act, Google founder is not allowed to buy competitor stock, and so do Woz and Gates :)
10. techspace (Posts: 690; Member since: 03 Sep 2012)
but he(Eric Schmidt) isn't the founder of google.......and we all know that he was a member of Apple's board of directors.......google's stock is at an all time high,so he must have felt this is the right time to sell a part of his stock
16. wendygarett (unregistered)
But he can use Google title to acquire Apple, if they want to :)
17. cheetah2k (Posts: 837; Member since: 16 Jan 2011)
Have you even read the anti-competition act Wendy?? FFS..
7. techspace (Posts: 690; Member since: 03 Sep 2012)
so,he thinks that Apple's stock will rise much faster than google's stock?
you don't buy stock if its cheap, you buy stock if you are expecting expect more gains from it......
8. techspace (Posts: 690; Member since: 03 Sep 2012)
i mean, " if you are expecting more gains from it"
9. jroc74 (Posts: 4934; Member since: 30 Dec 2010)
Man...Google stock is almost $800. Those that got it in the 90's.....have to be laughing all the way to the bank.
I wonder if I would sell now or let it ride if I had their stock from the 90's...
11. xsymbiann (Posts: 5; Member since: 09 Feb 2013)
Eric Schmidt is a billionaire. He was in North Korea. This guy is greedy and i dont trust him. I think im gonna switch to windows phone and other email service. I dont need an operating system and an email service that makes money from force-feeding me with ads and spying me just to get rich. Google and Schmidt = PURE EVIL
12. SGSatlantis (Posts: 205; Member since: 20 Jul 2011)
Wow, those Scroogled Microsoft adds really do work.
15. protozeloz (Posts: 5378; Member since: 16 Sep 2010)
Just so you know MS also reads your mail
18. cnpthe3rd (Posts: 51; Member since: 01 Feb 2009)
and just FYI listen to the ads again Microsoft never even denys reading your email they cleverly imply that by saying "we are different we never read your email just to sell ads" so why do they then?
20. protozeloz (Posts: 5378; Member since: 16 Sep 2010)
I think Microsoft should be fined as their adds are misleading.... Not only they too read email, but want consumers to be mad at Google for reading email. Even tho they do the same .... Its annoying but that is because their mail service has nothing to offer
13. xsymbiann (Posts: 5; Member since: 09 Feb 2013)
yes they do work. but android users just gave me thumbs down. lol.
21. joey_sfb (Posts: 3003; Member since: 29 Mar 2012)
Just use what works for you and keep your bashing to yourself. To me i don't like M$ and I just don't use their paid service like xbox live gold or skype. I use free ones and i like it that way.
22. joey_sfb (Posts: 3003; Member since: 29 Mar 2012)
And i support open source and open standard whenever possible as it level the playing field for great ideas and innovation instead of royalty and licensing which give me zero value.
19. InspectorGadget80 (Posts: 6579; Member since: 26 Mar 2011)
CEO's shouldn't or don't deserve STOCKS or bonuses