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Gates Sold $400 Million in Microsoft Shares | |
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| Time: 15:49 EST/20:49 GMT | News Source: Associated Press | Posted By: Alex Harris | ||
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Microsoft Corp. co-founder Bill Gates, who usually sells some of his holdings in the world's biggest software company for diversification, sold more than $400 million worth since early June and plans to sell millions more. According to a filing with the Securities and Exchange Commission, Gates sold a total of 8 million shares on June 3 and 4. He plans to sell 2 million more worth $99 million. His spokeswoman did not immediately return a call seeking comment, but Gates historically sells some of his Microsoft stock to diversify his portfolio. He is the company's chairman and biggest shareholder, with a stake of about 12 percent. Microsoft, with about 5.4 billion shares outstanding, was trading down 83 cents at $54.71 on Nasdaq in the late afternoon. | ||
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