Google’s Schmidt to Sell Roughly 42% of Stake

In a move that would convert Google stock into about $2.5 into cash, Goodgle founder’s Schmidt is unloading 42% of his Google shares over a year’s time.

Schmidt was ranked 138 on the Forbes list of global billionaires with a net worth of $6.9 billion in March 2012.

Given Schmidt’s changed role at the company and the amount of his wealth tied up in Google’s stock, it was not unreasonable for him to diversify his holdings, said Wedbush Securities analyst Dix.

“As good as Google stock is, it isn’t as good as cash if you actually want to buy something,” he said.

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