Google founders and Alphabet’s controlling shareholders Larry Page and Sergey Brin have sold more than $ 1 billion in combined shares from May of quest’year.
In May, the two sold Class A and Class C shares worth more than $ 1.07 billion, according to For Securities and Exchange Commission documents Compiled by OpenInsider. Brin’s sales totaled more than $ 610 million, while Page’s sales, including last week’s deal, exceeded $ 462 million.
Both founders’ sales fall in pre-established business plans. Brin and Page had already sold stock in 2017 when their latest plan expired.
Alphabet’s Class A shares have risen more than 50% since the start of the year, outpacing the Nasdaq and other tech giants like Amazon and Apple.
Page stepped down from his role as CEO of Alphabet in late 2019, handing over the reins to Google CEO Sundar Pichai, while Sergey Brin stepped down from his position as CEO of Alphabet and his role was revoked.
Page and Brin, who co-founded Google in 1998, remain on the board of directors and own a majority stake in the company, controlling 51% of Alphabet’s private voting share class. They are among the richest people in the world.
The Silicon Valley billionaires have kept a low profile since stepping down from their leadership positions, despite Brin’s appearance at Google’s first retail store in New York this week, CNBC learned. According to Insider, Page is spending a lot of time on his yacht in Fiji during the pandemic.
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