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Google’s founder page, Brin, has sold $ 1 billion in shares since May

Larry Page (left) and Sergey Brin (co-founder of Google Inc.).

JB Reed | Bloomberg | Getty Images

Google founder and Alphabet stakeholder Larry Page and Sergey Brin have sold more than $ 1 billion in shares since May of this year.

Since May of this year, the two companies have sold both Class A and Class C shares worth more than $ 1.07 billion, according to an OpenInsider filing with the Securities and Exchange Commission. Brin’s sales Over $ 610 million in total, Page sales -Including this week’s round-now over $ 462 million. Both founders sell under a pre-submitted transaction plan.

Brin and Page last sold their shares in 2017, when their last plan expired. The company’s stock price was strong this year. Alphabet Class A shares have risen by more than 50% year-to-date, ahead of NASDAQ and other major tech companies (Amazon, Apple, Facebook When Microsoft).The company reported strong revenue and revenue in the second quarter of 2021 on Wednesday Recovering from the worst impact of the Covid pandemic, quarterly advertising revenue increased 69% annually to over $ 50 billion.

Page at the end of 2019 Get off From the role as alphabet Hand the reins to CEO and Google CEO Sundar Pichai. At the same time, Sergey Brin resigned as president of Alphabet and his role was abolished.

Page and Brin, who co-founded Google in 1998, continue to be members of the board, holding a majority stake in the company and controlling 51% of Alphabet’s special-class voting stake. They are one of the wealthiest people in the world.

Although Brin appeared in Google’s first retail store, the recluse Silicon Valley billionaire has been unobtrusive since he resigned from his leadership role. shop CNBC learned in New York this week.I have a page Reportedly According to insiders, he spent a lot of time on his yachts in the Fiji Islands during the pandemic.

Watch: Alphabet’s earnings report “inflated” analysts’ expectations, analysts say

Google’s founder page, Brin, has sold $ 1 billion in shares since May

Source link Google’s founder page, Brin, has sold $ 1 billion in shares since May

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