Sergey Brin, 47, and Larry Page, 48, both founders of Google, have sold more than $1 billion worth of stocks combined since May 2021.
As of the end of July, Larry Page’s wealth valuation is $121 billion; Sergey Brin’s is $117 billion; respectively earning $38.3 billion and $36.7 billion in 7 months. Both men have earned $75 billion collectively.
Based on filings with the Securities and Exchange Commission, OpenInsider reported that the two firms sold shares worth $1.07 billion in May.
Including this week’s round, Brin’s sales now top $610 million, and Page’s is over $462 million. Each founder has filed a trading plan before selling. The Google founders had previously sold shares in 2017 when their last plan expired.
This year’s stock performance has been good for the company. The Nasdaq Composite Index and the stock prices of other tech giants such as Amazon and Apple have been underperforming the shares of Alphabet, the parent company of Google. A strong second quarter was reported on Wednesday for the company.
Page stepped down from the role as Alphabet CEO at the end of 2019, handing the reins to Google CEO, Sundar Pichai. At the same time, Sergey Brin stepped down as president of Alphabet and his role was eliminated.
Google co-founders Page and Brin remain board members and own 51% of Alphabet’s voting shares, a special class of shares. The pair are among the richest people in the world.
Currently, the company has a market value of $1.8 trillion.