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Gates to Sell 5 Million Microsoft Shares | |
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| Time: 15:31 EST/20:31 GMT | News Source: ZDNet | Posted By: Viper | ||
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Microsoft Chairman Bill Gates filed plans with the Securities and Exchange Commission to sell 5 million shares of stock in his company. The planned sales are valued at $335.45 million. Gates, one of the richest people in the world, often sells shares of his company as part of a regular investment program. In May, he filed plans to sell 8 million shares. Registering to sell the shares does not obligate Gates to sell them. He owns roughly 700 million shares of stock in the company. | ||
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| #1 By 182 (Unknown) at 8/3/2001 8:54:00 AM |
| Cambie, you don't own enough Lucent to be forced to file with the SEC when you sell your stock; Gates owns enough of Microsoft to have to do so. And, as #4 pointed out, your sale of Lucent will not affect its price or the overall market. Of course, I don't think Bill Gates selling 0.7% of his stock holdings in MS will, either, but he still has to file with the FCC. It's interesting, but not really earth-shattering news. I'm glad AW printed it. |
| #2 By 182 (Unknown) at 8/3/2001 3:20:00 PM |
| Couple different responses #6 - Gates *CAN'T* sell off all his shares in MS. You see, you don't just sell stock to a nameless faceless market somewhere; you sell it to a person. When you say "I want to sell x shares of XYZ for y per share", someone (or, in the case of NASDAQ, some computer) has to find someone out there willing to BUY shares of XYZ at y per share. Now if Bill sells 600 million shares of MS, who's gonna buy the last 100 million shares? Hell, if he sells the first 100 million shares at a time, who's gonna buy them after 50 million are sold? This is why Gates' money is PAPER. It's not real. #7 - actually, if you read the article, it's to further diversify his portfolio. Even if MS was the greatest stock ever (and some think it is; certainly you'd be hard pressed to find one that did better in the last 10 yeras), *NOBODY* should have all, or even more than half, their money in it. Diversification is the key, and Bill knows that. #8 - it's newsworthy. It's not front page material, but it's interesting neverhtless. #9 - off topic, but wrong anyway. MS is not an illegal monopoly, no matter what anyone says. It is a monopoly that used its monopoly power illegally, but it is not an illegal monopoly, because it does not control distribution and manufacture and retail markets (vertical monopolies, which are the only truly illegal monopolies). |
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