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Slashdot

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  Larry & Sergey To Cash In $5.5B of Google Chips

  Posted: January 23rd, 2010, 1:21pm MST by kdawson

  theodp writes "According to an SEC filing, Google founders Larry Page and Sergey Brin have adopted five-year trading plans to sell about 5M shares each, which would yield each about $2.75B based on Friday's closing stock price of $550.01. BTW, Google kicks in 12 cents to Social Security and another 2 cents to Medicare on its founders' celebrated $1 annual salaries." After this stock is sold, the founders will hold less than 50% of the voting shares and thus will give up voting control of Google.

  

  Read more of this story at Slashdot.