Skip to comments.Microsoft CEO Ballmer to sell off 75 million shares (Avoiding Cap Gains tax hike)
Posted on 11/07/2010 8:56:49 AM PST by AKSurprise
"This is the first time in seven and a half years that Ballmer has sold stock. His previous sales of Microsoft stock back in 2003 came in just under $1.6 billion.
According to SEC filings, Ballmer has already sold off 49,341,652 shares of common stock across three different transactions this week, totaling a little more than $1.3 billion. Coincidentally, Microsoft chairman and founder Bill Gates also sold some of his company stock this week with two different sales (1, 2) totaling an even 3 million shares.
The tax ramifications on the two sales are of special note given the savings and investment tax hikes that are going into effect in January. The maximum long-term capital gains tax rate will increase to 20 percent, up from 15 percent. In Ballmer's case, that ends up being a savings of around $67 million by selling now instead of January, assuming Microsoft's stock price stays the same."
(Excerpt) Read more at news.cnet.com ...
He must know something.
Other than the fact that tax rates are going up?
Fed paper money and within a few weeks or sooner the market will crash.
” He must know something. “
Insider selling across the board is up by several-hundred-percent over just a couple of short years ago....
Somebody must know something - and it’s real scary....
“He must know something.”
....I’m thinking the same thing...I thought that after the election defeats, the Dems were going to not mess with the Bush tax cuts.
67 million dollars saved is 67 million dollars earned.
Right choice for a capitalist :)
That was part of the Bush Tax cuts???
but we need that to money so that the government can help the poor. Why does he support higher taxes on the rich but avoid paying it himself
The list, ping
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However, if I’m not mistaken, Mr. Ballmer strongly opposed the state income tax initiative here in Washington. I think he helped to fund the opposition to the initiative. Initiative 1098 was promoted by Bill Gates’ father.
I would sell it all.
Bigger picture, they know that Microsoft will not again experience superior growth.
Microsoft CEO sells $1.3B of shares (CNBC article)
#17 relates to Bill Gates
I guess Apple stock is really expensive these days.
Ballmer’s campaign donations. Some R, mostly D.
From what I read, it is mostly R (see chart at top).
Bill Gates, Jr. did not get his brains from Bill Gates, Sr., or there would be no Microsoft, at least with Bill Gates, Jr. in it.
Same bunch of billionaires who wre pushing for an income tax in the state of Washington.
It was voted down in every single county in Washington State.
All that insider selling is presumably for tax purposes. This may be the last year anyone can avoid the huge tax increases coming down the pipeline unless the Bush tax cuts are extended.
Usually tax selling takes place in late November and December. But obviously some of the smart guys have decided to get out the door before everyone else catches on and starts stampeding toward the exits.
I don’t care who they are. Denying the govt more money is a good thing. They wrote the rules, they can live by them.
Not according to leftists... According to them, it's money that is being "stolen" from the government. According to them, all income actually belongs to the government, and what we get to keep is a "gift" from our betters. And the fact that they're letting us keep even a fraction of it proves how wonderful they are.
The fact is that leftists see all people as being the property of the government, and all the proceeds from their work actually belong to the government. They see themselves as beneficent, but their philosophy is that of slave holders.
Looks like he keeps his bases covered.