Larry Page, left, and Sergey Brin, co-founders of Google Inc.
JB Reed | Bloomberg | Getty Images
Google founders and Alphabet stakeholders Larry Page and Sergey Brin have collectively sold more than $1 billion worth of shares since May this year.
In early May of this year, the two sold both Class A and Class C shares worth more than $1.07 billion, according to Securities and Exchange Commission filings compiled by OpenInsider. Brin’s revenue totals over $610 million, while Page’s revenue — including a round this week — now exceeds $462 million. Both founders sell under pre-submitted trading plans.
Brin and Page last sold stock in 2017, when their last plan expired. The company’s stock has performed well this year — Alphabet Class A shares are up more than 50% against NASDAQ and the other tech giants (Amazon, Apple, Facebook and Microsoft). The company on Wednesday reported strong revenues and profits for the second quarter of 2021 as it recovered from the worst effects of the Covid pandemic, including a 69% year-over-year increase in ad revenue to more than $50 billion for the quarter.
At the end of 2019, Page stepped down as CEO of Alphabet and handed over the reins to Google CEO Sundar Pichai. At the same time, Sergey Brin stepped down as president of Alphabet and his role was eliminated.
Page and Brin, who co-founded Google with Google in 1998, remain board members and have a majority stake in the company. The two are among the richest people in the world.
The reclusive Silicon Valley billionaires have remained inconspicuous since they stepped down from executive positions, although Brin appeared at Google’s first store in New York this week, The Washington City Times has learned. According to Insider, Page reportedly spent a lot of time on his yacht in the Fiji Islands during the pandemic.
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