Microsoft Billionaires Cashing In Gates, Allen Preparing To Sell Stock Worth $1 Billion Or More

Microsoft co-founders Bill Gates and Paul Allen are preparing to sell what is estimated to be over $1 billion in Microsoft common shares.

In a series of filings with the Securities and Exchange Commission made this month, the two men who started what is now the world’s most powerful software company announced their intentions to part with over 9.5 million shares of Microsoft stock.

But there is no reason for Microsoft shareholders to worry. Both men, who have been made rich by their role in launching the company, are merely selling the shares in order to diversify their financial holdings, sources said.

Allen has reported to the SEC that he intends to sell over 6 million shares which today have an estimated market value close to $650 million. On Monday of this week, Allen told the SEC that he would be adding over 3 million shares worth roughly $315 million to the 3 million shares he announced he would sell at the beginning of August.

For his part, Gates has reported to the SEC his intention to sell 3.5 million shares of the company’s stock worth over $385 million.

Spokesmen for both men have said that the sales are nothing more than expected diversification measures made to protect their overall financial standing.

This month’s filings indicated that Gates and his associated foundations had sold roughly 7 million shares since last May. Allen’s filings show that he has parted with more than 10 million shares since May.

As of last September, Gates held over 540 million shares in the company, while Allen laid claim to around 185 million shares.