Eric Schmidt to cash in half of his shares in Google for $2.51 billion

By Shawn Knight
Feb 11, 2013
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  1. Google executive chairman Eric Schmidt is planning to sell nearly half of his shares in the company he helped turn into a household name according to documents recently filed with the Securities and Exchange Commission.

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  2. misor

    misor TS Evangelist Posts: 1,163   +197

    :envious here. (maybe he is investing in ms or apple.) :)

    seriously, can a high ranking official or a low level employee invest legally in a competing company?
  3. captainawesome

    captainawesome TS Guru Posts: 428   +44

    One of 3 things:
    1 - He is getting to the age where he wants to work less and wind down his day-to-day business dealings.
    2 - He is worried about Google (I personally doubt this one)
    3 - He is going on a shopping spree - prolly some island somewhere with his name on it :)
  4. Skidmarksdeluxe

    Skidmarksdeluxe TS Evangelist Posts: 6,514   +2,059

    Probably none of those. He's probably just struggling. I know I would if I only had a couple of billion at my disposal. (Pay no attention to me)
  5. 9Nails

    9Nails TechSpot Paladin Posts: 1,212   +174

    I don't know Skid. The article said he cashed out $1,500,000,000 a year ago in Feb 2012. If he's struggling, I know for sure that many of us can show him how to live month to month with-in a budget. He's up to something, maybe starting his own business.
  6. Skidmarksdeluxe

    Skidmarksdeluxe TS Evangelist Posts: 6,514   +2,059

    I was just being sarcastic. People with that kind of money never usually seem to have enough. Must be a disease. Why would he need to work in the 1st place? I guess only he would know.
  7. MilwaukeeMike

    MilwaukeeMike TS Evangelist Posts: 2,754   +1,107

    Because people like him don't work for the money, they work because they like their work. When you are driven to achieve like these guys, sitting on your backside enjoying your fortune would be terribly boring.

    He probably just cashed out because google stock is high right now, and he probably doesn't want such a large part of his fortune in one place.

    The bigger question is, why is he praying in that picture?
  8. cmbjive

    cmbjive TS Booster Posts: 777   +137

    This report is patently untrue. I will wait for the full report when Anonymous hacks Schmitt's Gmail account and releases the true report online.
    spencer likes this.
  9. T77

    T77 TS Enthusiast Posts: 300   +6

    Or maybe he's investing in Planetary Resources.
  10. cmbjive

    cmbjive TS Booster Posts: 777   +137

    "seriously, can a high ranking official or a low level employee invest legally in a competing company?"

    It's not a crime for employees or execs to invest in competing companies; this would be more of a question of ethics and would have to depend upon the policies of the company for whom the executive or employee works.
  11. Archean

    Archean TechSpot Paladin Posts: 5,682   +86

    Probability is, Google's share price is as high as it could get given the current situation, so, he is just cashing in to get some extra liquidity at his disposal, just my thought.
  12. Tygerstrike

    Tygerstrike TS Enthusiast Posts: 827   +93

    Theres a manision somewhere that he needs to purchase. As Escrow can take a few months to go through, he prolly pulled the first batch of cash as a down payment. There are very very few purchases that can be made in the million range. Even less the higher you go up in dollar value. Mostly Homes and Ships. An Island in the south pasific would cost in the billions range.
    Skidmarksdeluxe likes this.
  13. Skidmarksdeluxe

    Skidmarksdeluxe TS Evangelist Posts: 6,514   +2,059

    Or maybe he's practicing to become a philanthropist.

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