Google founders to sell $5.5bn worth of shares

Google founders Sergey Brin and Larry Page are each to sell off 5 million shares in their company over the next five years, earning them both a cool $2.75bn at today's price. The move will also cede majority control of the search giant, with their stake reduced to 48 per cent. CEO Eric Scmidt also has 9.5 per cent of the voting power, however, so the current management will remain in charge. Tom Krazit has the full story at CNET News: Google founders to sell stock, cede majority control by 2014.