Why did Sergey Brin Sell His Co-Founder Shares of Alphabet?

 

According to an SEC filing on Friday, co-founder of Google sold 13,889 shares of Alphabet, the parent company of Google. He had sold these shares after almost four years. A spokesperson for Brin declined to comment on the reason for selling the share and what the proceeds would be used for. When Brin sold his shares in November 2017, the share price was about $1,035 per share. Now it is more than double, as the shares soared during the pandemic and are worth about $2,341 per share. Brin will get approximately $20.6 million after taxes.

 

Sergey Brin is currently the ninth richest man in the world, while his friend and co-founder of Google Larry Page is at the eight spot. He still owns more than 38 million shares in the company and has sold a

small number of them. Both Brin and Page have stepped down from the day to day running of Alphabet in 2019, though they remain on the board.

 

Brin has maintained a low profile after leaving Alphabet. However, there are many reports that he is involved in two projects: LTA and Parkinson’s disease research.

 

Recent reports mention Brin has invested huge amounts of money in a company called LTA Research and Exploration. The company is building a huge airship that could deliver humanitarian aid during disasters and catastrophes all around the world. The airship may be fueled by hydrogen or helium and would not require conventional airports to take off or land on. Brin has been known to show a lot of interest in airplanes and airships in the past.

 

It is also a well-known fact that Parkinson’s disease runs in his family. Both his aunty and mother have the disease and he has funded research on the disease. There is a family foundation called the Sergey Brin Family Foundation founded in 2015 that finances research in the disease.

 

Sergey Brin has cashed out some of his shares and there is a huge possibility that the Google and Alphabet co-founder will use a part of not all the funds for either Parkinson’s disease research or on a humanitarian airship or on both.

Photo Wikimedia


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