Page and Brin to sell some of their Google shares

Google co-founders Sergey Brin and Larry Page have decided to each sell 5 million of their shares for a total of 10 million Google shares in a move expected to earn each one of them close to $2.75 billion.

Their sale of those Class B shares will reduce their control over Google as they will eventually carry around %48 of the total voting power. The two founders will have to rely on CEO Eric Schmidt to have majority voting ability as Schmidt controls 10% of the Class B shares in Google which hold the key to voting decisions.

Google’s B shares hold 10 times more voting power than the Class A shares.