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Thread: Larry Page and Sergey Brin selling 10 million Google Shares

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    bogart's Avatar
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    Larry Page and Sergey Brin selling 10 million Google Shares

    Google Inc. co-founders Larry Page and Sergey Brin plan to sell 10 million shares worth $5.5 billion at current prices. They will still control 48% of Google after the sale.

    Google co-founders to sell $5.5B combined in stock - Yahoo! Finance

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    5starpix's Avatar
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    I was thinking about the 48% control over Google, but then I read this;

    Falling below the 50 percent threshold might not matter because they run Google as a ruling triumvirate with the company's chief executive, Eric Schmidt, whose shares hold 10 percent voting power.
    These guys are just awesome, eh

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    bogart (23 January, 2010)

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    Quote Originally Posted by bogart View Post
    Google Inc. co-founders Larry Page and Sergey Brin plan to sell 10 million shares worth $5.5 billion at current prices. They will still control 48% of Google after the sale.

    Google co-founders to sell $5.5B combined in stock - Yahoo! Finance
    They felt the market shifting
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    Hi

    Let me check my purse. *Looking, looking,* Nope I don't have an extra $5.5 billion at this moment. LOL

    I'm just a dummy but someone might invent a better mouse trap and those shares could be worth nothing.

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    Is that going to be chunk change for the boys and will they spend the money the same way Tiger Woods spends his chunk change

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    It's saying something that they are taking $5.5 Billion off the table.

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    They each sold about $1.2B in shares in the 18 months after the IPO.

    I guess it doesn't take long to run through a billion dollars in their circles.
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    weirdnessme is offline Newbie Net Builder
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    I suppose they are doing this to introduce some capital to google for there future prospects and since eric schimdt hold another 10 % there should not be any problem of control for them as they go above 50 %

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    Quote Originally Posted by weirdnessme View Post
    I suppose they are doing this to introduce some capital to google for there future prospects and since eric schimdt hold another 10 % there should not be any problem of control for them as they go above 50 %
    I don't believe that they are selling the shares for capital for Google. Google can issue more shares should they need capital and I believe that Google has cash.

    I don't even think that Google pays any dividends to the shareholders?

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    Nope no dividends...I'm not 100%, but don't "Think" they've ever split either...

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