Quantcast
Latest Stories

Google chairman to sell $2.5 bn of shares



WASHINGTON— Google’s Chairman Eric Schmidt plans to sell 3.2 million “A” shares, currently worth $2.5 billion, over the next year, Google said Friday in a filing with the Securities and Exchange Commission.

The sale amounts to 42 percent of Schmidt’s 7.6 million Class A and Class B shares in the company, a 2.3 percent stake in the company, but 8.2 percent of voting power.

The sale is part of a pre-arranged trading plan for Schmidt’s “long-term strategy for individual asset diversification and liquidity,” according to the filing.

“Using this trading plan, Eric can diversify his investment portfolio and can spread stock trades out over a period of one year to reduce market impact.”

Google’s share price climbed 1.5 percent Friday to a new all-time record of $785.37, putting the value of the shares Schmidt will sell at $2.51 billion.

In its September 2012 billionaires list—when Google shares crossed the $700 line for the first time— Forbes ranked Schmidt 138th in the world, with his fortune worth $7.5 billion.


Follow us on Facebook Follow on Twitter Follow on Twitter




Recent Stories:

UN warns banana fungus spreading from Southeast Asia 2 hours elapsed ‘No real progress in PH if dynasties not dismantled’ 3 hours elapsed Cardinal Tagle to faithful: Join politics to clean it 3 hours elapsed Our Lady of Piat: Centerpiece of Cagayan’s gifts to Christianity 3 hours elapsed Sign maker to be nailed to cross for 28th time 3 hours elapsed 50 Quezon City cops each carry 30-kg crosses 3 hours elapsed AFP: Abu Sayyaf group, not MILF, target of Basilan operation 3 hours elapsed First Fil-Am elected to Sierra Madre, Calif. city council 5 hours elapsed
Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Eric Schmidt , Google , SEC

  • http://pulse.yahoo.com/_W7TPARCYJFCSA3PBQAM3MVZO3E kurakut

    HOW DO YOU INTEND TO DO WITH ALL THOSE MONIES? 

    • http://twitter.com/dibs_on_tweet Dennis

      hope he’s happy and contented with his life — as in really happy and contented. they say money can’t buy happiness..well, you an use ‘money’ to buy a ferarri to make you happy but for how long….. but if he would share his money to me, i would be very very happy! :-)

      • http://pulse.yahoo.com/_3QBMYPCCPWL5IDWF55BTBVWSAE UPLB-2008-3****

        after retirement: travel the world, make new friends, try out wonderful things and die.



Copyright © 2014,
.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement Advertisement
  1. Did Deniece Cornejo lambast Vhong Navarro on social media?
  2. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  3. Philippines may watch ‘blood moon’ online
  4. Tech company: Change passwords or suffer ‘Heartbleed’
  5. Mommy Dionisia Pacquiao scores, takes over social media
  6. Another reason to quit social media this Holy Week: your safety
  7. IT technician found guilty of defrauding firm of P130,000
  8. Online-addicted man arrested over son’s death
  9. SSS to shut down website for Holy Week
  10. Filling the digital talent gap
  1. Did Deniece Cornejo lambast Vhong Navarro on social media?
  2. Mommy Dionisia Pacquiao scores, takes over social media
  3. Nude and so dangerous
  4. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  5. Memes flourish after Pacquiao victory
  6. Netizens react to Pacquiao’s victory over Bradley
  7. IT technician found guilty of defrauding firm of P130,000
  8. Philippines may watch ‘blood moon’ online
  9. Ireland’s wedding singer priest an Internet hit
  10. Samsung flagship smartphone goes on sale worldwide
  1. #RejectedBbPilipinas2014Questions flood Twitter
  2. Did Deniece Cornejo lambast Vhong Navarro on social media?
  3. Netizens fall in love with Crimea prosecutor Natalia Poklonskaya
  4. Mommy Dionisia Pacquiao scores, takes over social media
  5. Nude and so dangerous
  6. Why didn’t missing jet passengers use their cellphones?
  7. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  8. Russia tries to curb Crimean prosecutor’s Internet fame
  9. Memes flourish after Pacquiao victory
  10. Netizens thank Capa for Lee arrest

News

  • UN warns banana fungus spreading from Southeast Asia
  • Massive infra spending set
  • ‘No real progress in PH if dynasties not dismantled’
  • Cardinal Tagle to faithful: Join politics to clean it
  • Our Lady of Piat: Centerpiece of Cagayan’s gifts to Christianity
  • Sports

  • Federer would skip tennis to be with wife, newborn
  • Manny Pacquiao in PBA? If so, he’ll wear No. 17
  • PSC sets Blu Girls US training
  • Power Pinoys settle for 7th place
  • Successful coaches to get raise
  • Lifestyle

  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Clams and garlic, softshell crab risotto–not your usual seafood fare for Holy Week
  • Moist, extra-tender blueberry muffins
  • The truffled mac ‘n’ cheese, eggs benedict, chicken leg confit are excellent
  • Entertainment

  • Why Lucky has not bought an engagement ring for Angel
  • Derek more private with new girlfriend
  • ‘Community’ star happy with return of show’s creator
  • Jealousy is kid stuff
  • Mommy-daughter adventure continues
  • Business

  • PH presses bid to keep rice import controls
  • PSEi continues to gain
  • Number of retrenched workers rose by 42% in ’13
  • PH seen to sustain rise in FDIs
  • Gov’t subsidies to state firms fell in first 2 months
  • Technology

  • Smart phone apps and sites perfect for the Holy Week
  • Tech company: Change passwords or suffer ‘Heartbleed’
  • Filling the digital talent gap
  • SSS to shut down website for Holy Week
  • Another reason to quit social media this Holy Week: your safety
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • First Fil-Am elected to Sierra Madre, Calif. city council
  • UC Irvine cultural night to dramatize clash of values in immigrant family
  • Filipino sweets and info served at UC Berkeley Spring Fest
  • Milpitas, California kids wrap up a successful run of ‘The Wiz’
  • Netizens welcome Japan’s visa-free travel plan
  • Advertisement
    Marketplace