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Ballmer plans to cash out 75 million Microsoft shares by year end

November 6th, 2010 at 12:45 PM  No Comments

While he will remain Microsoft’s second biggest shareholder, Steve Ballmer has begun selling off a good chunk of his shares and intends to do more before the end of the year.┬áThis week alone he’s shed over 49 million shares of common stock, netting him around $1.3 billion dollars. The remaining 26 million could go soon and net him just another half billion.

It’s the first time since 2003 Ballmer has cashed out his shares. That sell off brought Ballmer around $1.6 billion.

Bill Gates remains the biggest shareholder at Microsoft, owning around 7% of the company. Ballmer still owns around 4% of the giant. Gates himself cashed out around 3 million shares recently, probably to finance the purchase of more mosquitoes.

via CNET