Microsoft CEO Sells $1.3 Billion Worth of Microsoft Shares
This might come as a surprise but it is true that Microsoft CEO Steve Ballmer sold 12% of his Microsoft stakes. But just in time with the news, Microsoft Co-Founder Bill Gates also sold a part of his Microsoft stakes. Coincidence?
Microsoft CEO Steve Ballmer recently sold 12% of his shares in Microsoft that’s worth over $1.3 billion. According to the SEC, Ballmer sold 49.3 million Microsoft shares during the last three days making his ownership to 4.2% of the company. He sold his shares between $26 and $28.
Ballmer readied himself with a statement for the watchful eyes of the people. This statement was posted on Microsoft’s website.
Here is Ballmer’s statement:
“Even though this is a personal financial matter, I want to be clear about this to avoid any confusion. I am excited about our new products and the potential for our technology to change people’s lives, and I remain fully committed to Microsoft and its success.”
He also stated that he intends to sell more stakes up to 75 million before 2011. Possibly, he could sell 25 million shares of the company. This also coincides with the event of which Bill Gates sold 1 million of shares worth $27.2 million.View Article Source »