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Eric Schmidt planning to sell $1.45B of his Google stock

Posted: , by Michael H.

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Eric Schmidt planning to sell $1.45B of his Google stock
The sheer amount of money involved here is absurd, and frankly it depresses us just a bit. The Wall Street Journal has reported that Google's former CEO Eric Schmidt is planning on cashing in some of his stock in the company. 

Apparently, Schmidt is planning to sell stock worth about $1.45 billion. The craziest part about that is that the sell-off will only lower Schmidt's ownership stake in Google from 2.8% to 2.1%. He is planning to spread out the sales over the course of a year in order to "reduce market impact". 

Schmidt will continue as Executive Chairman at Google, and as yet, we don't know his plan for the cash out. It may be that he wants to invest somewhere else. Of course, even though we don't know what the plan is, that hasn't stopped speculation on the topic. Some are saying that the volatility of Google's stock has caused Schmidt to lose faith in the company, but we're not sure that there's sufficient proof for that leap. We're hoping Eric makes a statement on the topic to clear up his intentions. 

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posted on 17 Feb 2012, 19:52 3

1. alpinejason (Posts: 262; Member since: 06 Sep 2011)

sounds like he might know something bad about google that we dont and wants to get out before it is too late

posted on 17 Feb 2012, 19:56 8

2. LoneShaolin (Posts: 307; Member since: 14 Jan 2012)

Or the man wants a Scrooge McDuck money pool?

posted on 17 Feb 2012, 20:12 1

3. JGuinan007 (Posts: 692; Member since: 19 May 2011)

If he wants to bail on Google why only sell .07% of his stock thats not bailing if he still has 2.1% probly wants to invest in a company that Google will eventually buy.

posted on 17 Feb 2012, 20:58 2

6. tedkord (Posts: 14133; Member since: 17 Jun 2009)

Actually, he's selling 25% of his stock in google. It's only .8% of the entirety of Google shares on the Market, but it's a quarter of what he owns.

posted on 17 Feb 2012, 22:02 1

7. remixfa (Posts: 14605; Member since: 19 Dec 2008)

if he was losing faith it would be 50-75% of his stock. He probably just wants some play money.. umm. a lot of play money. lol.

Maybe he is starting a private patent trolling firm and giving it enough start up capital to get some good patent portfolios to use against apple/MS. People forget that apple/MS just won a big chunk of patents in their subsidiary partnership.

posted on 17 Feb 2012, 20:19 4

4. theBankRobber (Posts: 682; Member since: 22 Sep 2011)

He isn't going anywhere. He's probably going to invest his own money into another up coming product or has another product and wants to launch it with his own money. What's wrong with him inventing a new product with his own money, why get a whole company involved when he can start from a new beginning.

posted on 17 Feb 2012, 20:31 3

5. parkwaydr (Posts: 572; Member since: 07 Sep 2011)

I love this pic of him it looks like he just realized " hey I'm the richest a**hole here" and some one snapped a pic of him holding back that laugh that only the super rich are allowed to do............

posted on 17 Feb 2012, 22:04 4

8. remixfa (Posts: 14605; Member since: 19 Dec 2008)


"look, im s**tting money!"


posted on 17 Feb 2012, 23:15 1

9. tluv00 (Posts: 134; Member since: 18 Oct 2007)

Since iAds is having a firesale he probably figured now is the time to start advertising.

posted on 18 Feb 2012, 04:18 1

10. Striker (Posts: 92; Member since: 06 Nov 2011)

The mice are leaving the ship! :)))) Chesk out next week: ''Eric buys Apple shares for 2 billion.''

posted on 18 Feb 2012, 06:59 1

11. sonisoe (Posts: 435; Member since: 06 May 2009)

he's earned it... he can do whatever he wants... heck he didnt have to work for the rest of his life before this, now he doesnt have to work for twice his life...

posted on 18 Feb 2012, 11:59

12. ddxmms (Posts: 170; Member since: 09 Feb 2012)

its really great felling.. knowing you are rich as hell,,yeb its great felling.lol.

posted on 18 Feb 2012, 13:15 2

13. Karan_Malhotra (Posts: 27; Member since: 17 Feb 2012)

That guy is seeing the future of android trembling down with all that patent infringment lawsuits.

posted on 19 Feb 2012, 18:51 1

14. JunitoNH (Posts: 1934; Member since: 15 Feb 2012)

He's not stupid, look at his face, read his mind. Hmm..... I better invest some serious money with Apple.

posted on 20 Feb 2012, 00:02 1

15. dreammixer (banned) (Posts: 81; Member since: 10 Feb 2012)

Jumping off the sinking ship?

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