Google Founders Selling Their Stock, to Control Under 50% of the Company by 2014

January 25, 2010, By Radimir Bobev

Google’s original founders, Larry page and Sergey Brin, are planning on giving up their majority control of the company, by selling enough stock by 2014 to fall under the 50% mark. This was initiated in November, when the two entered long-term stcok disposal agreements.

The agreements are commonly used by executives to add some diversity to their stocks over time without driving away potential stock buyers. The interesting thing here is that by the end of the plan, the duo will have control over less than half of the voting power of Google shares.

Larry and Sergey’s plans are to sell 5 million Google shares over the period of five years – they currently control 59% of the voting power of the company, and by the time their plan is complete, they’ll have control of 48% of the voting power.

This is a curious turn in the company’s development, and we just hope that it doesn’t mean a bad future for it, but instead will bring about improvements.

[ Via CNET ]

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