Google’s chairman selling off more than 40% of holdings this year

Google’s chairman selling off more than 40% of holdings this year
Valued at over $2.5 billion, Eric Schmidt will sell off nearly half of his holdings in the internet search giant 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

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22 Comments

1. ScottSchneider

Posts: 336; Member since: Dec 06, 2011

Probably he wants to be like Duck McScrooge... Well.. Its all his...

2. imsickwithsmartphone

Posts: 153; Member since: Jan 28, 2013

Good time to invest!!

14. loyals

Posts: 129; Member since: Nov 10, 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: 1313; Member since: Jan 17, 2011

I don't know why this guy is garnishing so much attention. You hardly here anything about the CEO.

5. BattleBrat

Posts: 1476; Member since: Oct 26, 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: 1037; Member since: Sep 03, 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: 2147; Member since: Jan 16, 2011

Have you even read the anti-competition act Wendy?? FFS..

7. techspace

Posts: 1037; Member since: Sep 03, 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: 1037; Member since: Sep 03, 2012

i mean, " if you are expecting more gains from it"

9. jroc74

Posts: 6023; Member since: Dec 30, 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: Feb 09, 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: 227; Member since: Jul 20, 2011

Wow, those Scroogled Microsoft adds really do work.

15. protozeloz

Posts: 5396; Member since: Sep 16, 2010

Just so you know MS also reads your mail

18. cnpthe3rd

Posts: 103; Member since: Feb 01, 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: 5396; Member since: Sep 16, 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: Feb 09, 2013

yes they do work. but android users just gave me thumbs down. lol.

21. joey_sfb

Posts: 6794; Member since: Mar 29, 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: 6794; Member since: Mar 29, 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 unregistered

CEO's shouldn't or don't deserve STOCKS or bonuses

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