Google founders to sell 10m shares

Google co-founders Larry Page and Sergey Brin plan to sell five million shares each of their company stock, worth around $5.5 billion in total.

According to AP, The shares will be sold periodically over the next five years, eventually leaving the two with 48 per cent voting power – down from a controlling 59 per cent now.

According to regulatory documents, Page and Brin will still own 47.7 million shares combined after the sales.

Google CEO Eric Schmidt has almost 10 per cent of the firm’s voting power meaning that with all together, the trio still hold control.