Google Eric Schmidt

Google chairman Eric Schmidt to sell £1.6 billion in shares


By Jennifer Faull, Deputy Editor

February 10, 2013 | 2 min read

According to the Guardian, former Google CEO and chairman Eric Schmidt is planning to sell 3.2 million of the 7.6 million shares he owns.

At close on 8 February, shares were worth $785.37 each meaning Schmidt’s sale of almost half his shares would be valued at £1.6 billion ($2.5 billion).

In a filing with the US Securities and Exchange Commission Google stated that the sale would be spread out across a year so as not to impact upon the company's share price.

The filing cited that Schmidt would benefit from being able to "diversify his investment portfolio".

Google Eric Schmidt

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