Schmidt apparently intends to sell a major chunk of more than half a million Google shares he owns. He has formulated a stock-trading plan in a filing with the US Securities and Exchanges Commission (SEC) and will sell close to 534,000 shares of Google Class A stock next year.
A member of the Forbes list of the world's richest, Eric will see his wallet swell by a whopping $334.7 million, if he were to sell the stock at today's closing price of $626.77. In spite of this, the amount will only be a small chunk in his huge kitty of Google shares worth 9.2 million.
Even if he forgoes the large chunk of shares he will still proudly hold 2.9% of Google"s outstanding capital stock, own 2.7% of Google and hold 9.1% of the company"s voting power due to his ownership of Google"s Class B common stock.
News was out in Jan 2010 that the Goggle co-founders will each sell 5 million shares over five years. The gross sale amounting to $6.27 billion in today"s rate. Eric's current stake still falls short of his other two counterparts, Larry Page and Sergey Brin.