Microsoft’s Chief Executive, Ballmer Sells His Own Shares Of The Company

Steve Ballmer, Microsoft’s Chief Executive, sold his $1.3 billion worth of shares in the company, resulting in his total share being cut and leaving his stake by approx. 12 percent. On inquiry he replied his first stock sale in seven years, shall not at all be taken as a sign of lack of confidence in the world's largest software firm.

Further Ballmer announced that he will also be selling some more shares at the end of year, stating the reason as it being a stop to diversify his investments and plan for taxes. Rumors, however, clam that Ballmer, the 54-year old executive, who has been CEO since 2000, might now be in the mood to prepare a silent exit from the company.

On the company's Website, Ballmer has stated: "Even though this is a personal financial matter, I want to be clear about this to avoid any confusion," and went on saying "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 has been business manager at Microsoft since when he joined in 1980, and has never shown such interest in stepping down or leaving the company before, even despite facing the criticism from Wall Street over the company's lagging shares, which are trading at the same level as 2002.

Reportedly, On Friday, Ballmer sold 49.3 million Microsoft shares in the last three days, at prices lying around $27 per share; say U.S. Securities and Exchange Commission. While he further plans to sell up to a total 75 million shares by the end of the year.

Ballmer holds about 359 million Microsoft shares, or 4.2 percent of the company, worth about $9.6 billion, which makes him the second largest shareholder after the first, Chairman and co-founder Bill Gates, who holds about 621 million shares, or about 7.2 percent of the company, according to Thomson Reuters data.