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Ballmer cuts stake in Microsoft with shares sale | |
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| Time: 08:27 EST/13:27 GMT | News Source: *Linked Within Post* | Posted By: Chris Hedlund | ||
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Microsoft chief Steve Ballmer cut his stake in the company by about 12 per cent late last week, after selling $1.3bn worth of shares. It’s the first such stock sale by Big Steve in seven years and was done, according to Microsoft, to “diversify” the firm’s CEO’s investments and help plan for taxes. | ||
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| #1 By 15406 (216.191.227.68) at 11/8/2010 2:16:07 PM |
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I thought the captain was supposed to go down with his ship? I jest!
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| #2 By 89249 (64.207.240.90) at 11/8/2010 4:11:31 PM |
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So much is being made of this... it was a tax decision. Long Term Capital Gains rates will jump as much as 5 points in the next tax year. Doesn't make for great story telling but why would him leaving MS cause him to sell stock.
Hell right now MS is positioning itself where that stock will have higher value in the future. With what he's expecting to sell he could save up to $100M in taxes. |
| #3 By 8556 (173.27.244.6) at 11/8/2010 11:41:40 PM |
| #2: It sure seems like wise tax planning. That is not as cool as saying Ballmer's dumping his shares however. Maybe he just needs another billion in pocket money. |
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