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

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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15 Comments

1. alpinejason

Posts: 262; Member since: Sep 06, 2011

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

2. LoneShaolin

Posts: 307; Member since: Jan 14, 2012

Or the man wants a Scrooge McDuck money pool?

3. JGuinan007

Posts: 699; Member since: May 19, 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.

6. tedkord

Posts: 17415; Member since: Jun 17, 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.

7. remixfa

Posts: 14605; Member since: Dec 19, 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.

4. theBankRobber

Posts: 682; Member since: Sep 22, 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.

5. parkwaydr

Posts: 572; Member since: Sep 07, 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............

8. remixfa

Posts: 14605; Member since: Dec 19, 2008

caption "look, im s**tting money!" lol

9. tluv00

Posts: 134; Member since: Oct 18, 2007

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

10. Striker

Posts: 92; Member since: Nov 06, 2011

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

11. sonisoe

Posts: 440; Member since: May 06, 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...

12. ddxmms

Posts: 170; Member since: Feb 09, 2012

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

13. Karan_Malhotra

Posts: 27; Member since: Feb 17, 2012

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

14. JunitoNH

Posts: 1946; Member since: Feb 15, 2012

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

15. dreammixer

Posts: 81; Member since: Feb 10, 2012

Jumping off the sinking ship?

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