Google founder and controlling shareholder of Alphabet, Google's parent company, Larry Page and Sergey Brin have sold a combined stake of more than USD 1 billion or equivalent to Rp 14.4 trillion since May.
The share sale figure is the largest recorded by the company since 2017, CNBC reported on Sunday (1/8/2021).
Page and Brin released Class A and Class C shares worth more than $1.07 billion, according to a filing with the Securities and Exchange Commission compiled by OpenInsider.
With the sale of shares of the company, Brin total has sold the company he founded for USD 610 million or Rp 8.8 trillion and Page released his ownership shares worth USD 426 million or Rp 6.1 trillion.
Despite being the largest share sale, the company's performance is still okay.
Alphabet's Class A shares, meanwhile, are up more than 50% from this year, beating the Nasdaq Composite and shares of other tech giants, such as Amazon and Apple.
As is known, Larry Page and Sergey Brin are important figures in the establishment of Google's 'empire' as the most utilized internet engine for internet users around the world. They've been building Google since 1998.
Over time, Page resigned as CEO of Alphabet at the end of 2019, handing the relay baton to Sundar Pichai.
At the same time, Brin resigned as President of Alphabet and his role was removed.
Even so, Page and Brin are on the board and hold a majority stake, controlling 51% of Alphabet's special voting class. Meanwhile, Page and Brin are also included in the ranks of the richest people in the world.
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