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Brin and Page to Sell 5 Million Shares of Google Stock

Monday, 25 January 2010 22:57
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The sale will bring the pair's ownership of Google down to 48%, slightly less than majority control.

Not to worry as CEO Eric Schmidt still owns 10%, keeping the trio well in charge of the goings on at the Mountain View-based company.

 

Google has a dual-class stock structure. Execs get 10 votes per share of Class B stock, but when they are sold, they become Class A stock with just one vote per share.

Currently, Page and Brin own a combined 57.7 million shares of GOOG.

via New York Times