Is Ballmer preparing to say good bye to Microsoft?
By siliconindia   |   Monday, 08 November 2010, 15:14 IST   |    2 Comments
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Is Ballmer preparing to say good bye to Microsoft?
Bangalore: Microsoft's CEO Steve Ballmer has sold 49.3 million shares or 12 percent of his own shares, in Microsoft stocks in the past three days, worth about $1.3 billion. Steve Ballmer is Microsoft's top corporate executive in the company, and he has just shed a part of his stake in the company, and plans on selling more by the end of the year. According to reports Steve Ballmer plans on selling up to 75 million shares by the end of the year. Does it mean that he lost his faith in Microsoft? Ballmer made the announcement days after the state of Washington voted down proposition 1098, created by Bill Gates' father that would have increased taxes on income and dividends to pay for better schools and healthcare. Ballmer campaigned against the law, contributing over $400,000 in funds to defeat the proposition. The move pitted him against Bill Gates, who campaigned for the tax rise to the annoyance of senior Microsoft staff. According to some reports Ballmer has already completed a large chunk of the sales. The U.S. is currently debating allowing tax breaks that disproportionally benefit the wealthiest citizens introduced by former President Bush to lapse, leaving high rate payers facing increased tax bills next year. In a statement Ballmer said he was just as confident in Microsoft's future as ever but was making the sale for 'financial diversification and to assist in tax planning before the end of the calendar year.'

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