I'd like to think
He was cashing in so had some cash for when Googles disastrous and misguided buy out of Moto sinks the company, but it's more likely he's taking some cash before the US tax laws change later this year
Google chairman Eric Schmidt plans to sell off $1.45bn (£914m) shares in the company - a move that represents his biggest annual disposal in the company. According to a regulatory filing submitted to the US Securities and Exchange Commission on 17 February, the one-time chief of the Chocolate Factory will cut his share …
The guy has more than enough money that he can cash out, retire and then go in to business as an Angel investor or start his own tech fund.
Lets face it. Its possible that a small ($500K USD) investment in to the right company could generate a return of over a billion dollars. (Facebook).
So the portfolio diversification makes sense. After all, its hard to spend a billion dollars in a single life time....
I hate to be pedantic (ok I LOVE being pedantic) but to say he is cutting his ownership by "about 0.7 per cent" is ambiguous. It could mean he is selling 0.7% of his shares whereas you meant 0.7% of the whole company. You should have said cutting his share of ownership by 0.7 percentage points (or 70 basis points).
I'm in the lucky position that I still do enjoy my job, but being only a few years younger than Eric I do find it a little sad that someone already 3/4 of the way through his three-score-and-ten can't find a way to have more fun with $1.5bn than just going to work as usual, no matter how much he enjoys it?
I mean, are first-class flights to tropical islands really that boring? Even if he wants to work a bit on the beach, the 3G roaming charges can't be that much of a problem...
And to think I remember him standing in our staff cafeteria discussing the new licensing software, when he was just our unexciting boss. Where did I go wrong?
Where did you go wrong? It doesn't sound like you did to me. If you're the age you say and you still enjoy your job, that's a win in my book any day.
I wouldn't accept all of his money to be him for a day, let alone a lifetime. And g*d pity the world the day he chooses to enter into the political arena.
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