Microsoft Corp. Chief Executive Officer Steven Ballmer has sold 50 million Microsoft shares, worth around $1.3 billion, according to a filing with the Securities and Exchange Commission. According to reports, this is the first time the executive has sold portions of stock in his company in seven years. Ballmer, in a statement to AP, said that the sales were merely for year-end tax planning purposes and are not indicative of his views on the direction of the company.
“Even though this is a personal financial matter, I want to be clear about this to avoid any confusion,” Ballmer said. “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.” Ballmer said that in total he still holds roughly 350 million shares of Microsoft stock.
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