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Google Cofounders Sold Over 4 Billion Dollars Worth of Shares

In 18 months

By Marius Oiaga, Technology News Editor

19th of August 2006, 11:53 GMT

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The Mountain View's stock is down 18% from its apex value and market analysts have identified the source of the deflation in insider trading. Debuting at $85 per share with Google's initial public offering
in August 2004, the company's shares skyrocketed to $475 and they dropped in the vicinity of $400.

Inherent to Google's initial public offering was a series of trading restrictions that evaporated in 2005, and 18 month of time witnessed the transaction of in excess of 23 million shares. The tendency generalized among Google's top executives, but Larry Paige and Sergey Brin are top sellers. While a total of $7.4 billion of shares were parted with, the billionaire duo alone sold approximately $4 billion worth of stock.

In this regard, statistics indicate that Page and Brim still own a Google shares volume of $24 billion, considering that the current price is $386 per share, down another 7%. As yet Page sold an approximated $2 billion shares, and Sergey is not far behind with $1.9 billion. Shadowed by such massive individual stock offloads, additional transactions involving company executives amount to $3.4 billion, lagging behind Google's cofounders.

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