Microsoft CEO Steve Ballmer is planning to sell up to $2 billion worth of stock by the end of this year.
The sale will be the first in the seven years Ballmer has been with Microsoft and will allow him to diversify his holdings and assist in tax planning by the end of this year.
According to Business Week, Steve Ballmer held around 408 million Microsoft shares before the sale.
It is estimated that Ballmer will be selling 75 million shares, worth around $2 billion, based on the 5 November closing price. According to a regulatory filing, Ballmer has already sold 50 million shares out of the 75 million he plans to sell.
Ballmer said in a statement: “Even though this is a personal financial matter, I want to be clear about this to avoid any confusion.”
“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,” he added.