AfterDawn: News

Microsoft CEO sells $1.3 billion worth of shares

On Friday, Microsoft CEO Steve Ballmer sold $1.3 billion worth of his shares in the company, while downplaying any worries that he was planning to leave the company or had lost faith in its future.

The sale will reduce Ballmer's share in the software giant by almost 12 percent.



Ballmer also noted that he will sell hundreds of millions worth of more shares by the end of the year as the 54-year old exec is planning to "diversify his investments and plan for taxes," says Reuters.

Says the CEO: "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."

Ballmer started in the company as a business manager in 1980, becoming CEO in 2000.

The CEO sold 49 million shares and plans to sell another 26 by the end of the year. After the sales, Ballmer will still have over 325 million shares of the company, which is currently trading at $26.85 a share.

Written by: Andre Yoskowitz @ 7 Nov 2010 1:19

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• 7 comments

• KillerBug

  He isn't as dumb as Windows Phone 7 might make you believe...oh wait...microsoft stock is about as high as it is going to be at any point in the next two years and he only sold 12% of his stock...he is that dumb.

  7.11.2010 01:33 #1

• xtago

  well he pobably got all that stock and more for next to nothing or free, so if the share price is $22 that's $22 x 1.2million
  
  if you want free money he's not doing a silly thing.
  
  though he'll just be getting ready for when to board turf's his ass out.

  7.11.2010 05:59 #2

• dynadom (unverified)

  Microsucks Google will offer opening systems for free on tablets. Xbox sucks ps3 will take over no one wants windows edited by ddp 7 lol go to edited by ddp microedited by ddp

  7.11.2010 08:05 #3

• SomeBozo

  Good riddance for Ballmer if/when he leaves, he has really done a miserable job. To see him sell this much stock, he must be anticipating the price to only go down from here, why else sell it? I'm certain he has confidence he will continue to do a piss poor "10% underachieve" for his yearly commitments.
  

  7.11.2010 13:20 #4

• DXR88

  i see ballmer weaving a golden parchute. after all when you have your head that far up your ass, your coworkers and CEO buddy's are bound to start looking at you funny. not to mentioned next year when Microsoft is in the gutter and bill comes and tosses his ass off the 4th floor.
  

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  7.11.2010 16:00 #5

• adre02

  My how the mighty have fallen...
  

  This is superman

  13.11.2010 11:29 #6

• SomeBozo

  Originally posted by DXR88: i see ballmer weaving a golden parchute. after all when you have your head that far up your ass, your coworkers and CEO buddy's are bound to start looking at you funny. not to mentioned next year when Microsoft is in the gutter and bill comes and tosses his ass off the 4th floor. It isn't a golden parachute, the stock is his own, golden parachutes would be a bonus package the company gives him which they didn't.
  
  

  13.11.2010 13:27 #7