Founder and controlling shareholder of Google Alphabet, Google parent company Larry Page and Sergey Brin have sold more than $ 1 billion of shares together since May.
The stock sales figure is the largest the company has recorded since 2017, as reported by CNBC, Sunday (1/8/2021).
Page and Brin sold Class A and Class C shares worth more than $ 1.07 billion, according to a statement to the Securities and Exchange Commission compiled by OpenInsider.
With the sale of the company’s shares, Brin sold a total of USD 610 million from the company he founded and Page disposed of his shareholding for USD 426 million.
Although it was recorded as the largest stock sale, the company’s performance was still good.
Meanwhile, shares of Alphabet Class A rose more than 50% from the year, surpassing the Nasdaq Composite and shares of other tech giants, such as Amazon and Apple.
As is well known, Larry Page and Sergey Brin were key figures in the establishment of Google’s ‘government’ as the most widely used internet machine by internet users around the world. They built Google in 1998.
As time went on, Page resigned as CEO of Alphabet at the end of 2019 who then handed the staff to Sundar Pichai.
At the same time, Brin resigned from the position of President of Alphabet and his role was removed.
However, Page and Brin are on the board and hold a majority stake, controlling 51% of Alphabet’s special class voted shares. Meanwhile, Page and Brin are also among the richest people in the world.
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