Google founders dumping $5.5b worth of stock

Discussion in 'Wall St. News' started by turkeyneck, Jan 23, 2010.

  1. SAN FRANCISCO (MarketWatch) -- Google Inc. co-founders Sergey Brin and Larry Page, who still own nearly one-fifth of the Internet giant, disclosed Friday that they intend to significantly reduce their stake by selling roughly $5.5 billion worth of stock over five years.

    The sales are significant, because they would effectively eliminate Brin and Page's control of their company by cutting their collective voting power below 50%. Still, the 48% voting power that the co-founders' would retain following the sales nonetheless constitutes a formidable position of influence.