The internet was buzzed with the reports of Microsoft CEO Steve Ballmer selling out his stock shares. Ballmer released a press statement:
“Microsoft Chief Executive Officer Steve Ballmer confirmed Friday that he’s selling some of his holdings of Microsoft stock to gain financial diversification and to assist in tax planning before the end of the calendar year. He plans to sell up to 75 million shares by year-end. Before taking into account recent sales, according to the latest Microsoft proxy report, Ballmer held approximately 408 million shares.
“Even though this’s a personal financial matter, I want to be clear about this to avoid any confusion,” Ballmer said. “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.””
Based on the company’s closing price of $26.85, the 75 million shares would be valued at approximately $2 billion,