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GOOGLE’S CO-FOUNDERS PLAN TO
SURRENDER MAJORITY CONTROL
There’s little need to weep for Sergey Brin and Larry Page, the Stanford U whiz kids who turned a dream into one of the world’s great success stories in little more than 11 years. The pair recently announced they plan to give up their majority stock positions in Google over the next five years.
That doesn’t mean they won’t continue to influence every aspect of the company. With 48% of the voting rights shared between them, they certainly will continue as company powerhouses.
The plan is to sell what will amount to some $2.75 billion worth of shares, stretched over the five-year period so that there would be no sudden impact on the company and the two men can never be accused of insider trading.
The two men, both just 36-years-old, deserve great credit for the organization they have built.
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