Steve Ballmer Sells $1.3 Billion Worth of Microsoft Shares

Here is Ballmer’s statement:

“Even though this is a personal financial matter, I want to be clear about this to avoid any confusion. I am excited about our new products and the potential for our technology to change people’s lives, and I remain fully committed to Microsoft and its success.”

He additionally stated that he intends to sell more shares — up to 75 million — before the end of the year. That means he could potentially sell 25 million more shares of the company.

Perhaps by coincidence, Microsoft co-founder and chairman Bill Gates also sold 1 million of shares, worth approximately $27.2 million.

Ballmer joined Microsoft on June 11, 1980, and became Microsoft’s 30th employee, the first business manager hired by Gates. Ballmer loved working at Microsoft. He was initially offered a salary of $50,000 as well as a percentage of ownership of the company. When Microsoft was incorporated in 1981, Ballmer owned 8 percent of the company. He has headed several divisions within Microsoft including “Operating Systems Development”, “Operations”, and “Sales and Support.” In January 2000, he was officially named chief executive officer. As CEO Ballmer handled company finances, however Gates still retained control of the “technological vision.” In 2009, and for the first time ever, he made the opening keynote at CES, since Bill Gates left Microsoft as full-time chairman.

Source: mashable.com