February 10th, 2011 7:04 pm EST - By Dave Manuel
Bill Gates Dumps 90 Million Microsoft Shares Over The Past Year
According to SEC filings, Bill Gates has reduced his position in Microsoft over the past year from 669,970,258 shares to 580,974,696 shares.
Gates is the co-founder of Microsoft and currently serves as a non-executive Chairman for the company.
Over the past few years, Gates has spent less of his time being involved with Microsoft and more of his time working with the Bill and Melinda Gates Foundation Trust. Gates has pledged to give the vast majority of his wealth to the Bill and Melinda Gates Foundation Trust, which will be using the money to try to eradicate HIV/AIDS, malaria and mother-and-child deaths, in addition to maintaining its various domestic commitments.
Gates' share sales over the past year have amounted to roughly $2.5 billion in total sales. Microsoft currently has 8.4 billion shares outstanding and 7.39 billion shares in its float.
Bill Gates will have sold the entirety of his personal Microsoft stake by mid-2017 if he keeps up his current pace.