Google: Founders want to give up voting rights
Google founders Larry Page and Sergey Binn apparently plan to sell about 17 percent of their stock holdings by 2014. This would cause their voting stake to fall below 50 percent.
Due to the ownership of Class B shares, which carry tenfold voting rights, the Google founders together with CEO Schmidt and the employees, who also own Class B shares, have a voting majority of 70.9 percent. As reported by Netzwoche, the sale is intended to prevent turbulence on the stock market. At the same time, the two Google founders want to diversify their own share portfolios.
