Forum Moderators: goodroi
California took in a record $11.3 billion in personal income tax receipts in April, $4.3 billion more than it collected last April. It's almost certain that a significant chunk of April's haul came from Google employees -- perhaps one-eighth or more of the tax receipt gain.The fact that a single high-flying Silicon Valley company is giving such a big boost to the state treasury can be determined by examining insider stock trading information filed with the Securities and Exchange Commission.
Fourteen of Google's top executives and directors sold $4.4 billion worth of stock last year, according to Thomson Financial. That includes founders Sergey Brin and Larry Page, each of whom sold about $1.3 billion worth of stock.
That includes founders Sergey Brin and Larry Page, each of whom sold about $1.3 billion worth of stock.
Like winning the highest Powerball jackpots 5x each! Yoi.
Now it seems billionaires are a dime a dozen in California. Any predictions who and when the world's first trillionaire will arrive on the scene?
If that doesn't say "We have faith in our company" I don't know what does.
Any predictions who and when the world's first trillionaire will arrive on the scene?
I guess "they" don't want to end up paying the 1.5 billion needed to deal with their machinery "crisis".
Hey- maybe that's why they sold the stock- to use the money to buy hardware and donate it to the company!
Ermmmm, I somehow doubt it. Their motto is "Do no evil", not "Kick me, I'm an idiot".
they have a lot of faith--about $10 billion more. They only sold part of it. Personally, I would have sold more had I been in their position.
P.S. I believe there are some trillionaires already..but they are underground about their income because it would be from being a despot and stealing their country's fortunes. Think Eastern Europe...
I remember a time when John Paul Getty was the world's first and only billionaire. He alone held this distinction for years.Now it seems billionaires are a dime a dozen in California. Any predictions who and when the world's first trillionaire will arrive on the scene?
The first billionaire was actually John D. Rockefeller, who surpased that amount at Sep 29, 1916.
Today's equivalent is around 19 billion, according to this interesting conversion script: [eh.net...]
During his lifetime he amassed about $200 billions of today's money.
So, the first trillionaire would be more matter of the inflation and the nature of the current fiat money absurdity, than the real indicator of someone's business mastery.
Anyway, the stock selling trend of "the boys'" is pretty steady in the last few years.
Once they have to be right. ;)
California took in a record $11.3 billion in personal income tax receipts in April, $4.3 billion more than it collected last April. It's almost certain that a significant chunk of April's haul came from Google employees -- perhaps one-eighth or more of the tax receipt gain.
So I guess all that 60 minutes hullabaloo about everybody showing up in their beat up VW's on the day after the IPO was a bunch of hooey? Maybe they should have waited for the day after the lockup ended then checked the parking lot..
How is selling stock a good indication that they have faith in their company. To me, it is the exact opposit. Hey! We gotta sell now cause this ticker is going downhill! Sell fast everyone inside(r) the company before the media informs the herds.
Also, I think JDR was a billionare in assets while JPG was a billionare in shares of stock. None of them had a billion in liquid cash.
Trillionaires in east europe because their goverments are corrupted?
As far as History tells rich countries become so, becuase their goverments and socially conscious citizens ("business men") become corrupted.
So, if there are any trillioneres now (which I doubt) it would be in the rich countries in Europe or the USA where is exaclty that the most powerful and wealthy companies/families live.
How is selling stock a good indication that they have faith in their company. To me, it is the exact opposit. [sic]
That was the point of the thread. Read it with a little sense of humor, you'll see that some other poeple interpreted it correctly.
I stand by my statements even if it makes no sense to you from your vantage point.
id do the same
Trillionaire: Look at what the world's most wealthy men do with their dosh. The Gate's are giving billions away. Steal magnet and one time richest man in the world Andrew Carnegie spent the final chapters of his life giving his fortunes away. So the real question should perhaps be - what has to happen for today's billionaires to stop playing monopoly long enough to see what responsibilities wealth brings with it?
What would you do with over a billion? What will the G boys do with it next?
Accounting for inflation I think the most wealthy individual ever was John Fairburn of England.
Billionaires made of cold hard cash are few and far between. I am not sure that even Gates could get his hands on $billion cash readily.
He could get his hands on 10 billion in $20 bills before you could get your hands on $10,000 any denomination.
Billionaires made of cold hard cash are few and far between. I am not sure that even Gates could get his hands on $billion cash readily.
He could get his hands on 10 billion in $20 bills before you could get your hands on $10,000 any denomination.
Nice..
they have a lot of faith--about $10 billion more. They only sold part of it. Personally, I would have sold more had I been in their position
I'm sure this is the beginning of a strategic stock sell off. Their stock and company would crash in no time if it looked obvious that the two founders were quickly trying to "get out" (which they are). Google has peaked at a very unrealistically high market value. IMO.
The question is what did our friends at Google do when they cashed out SOME of their stocks? Most likely they re-invested much of it into other types of securities to diversify their portfolios. Even a newbie investment consultant will tell you not to put all your investment egg in one basket.
Another question is the type of stock that was sold. Some options have a use-it-or-lose-it expiration date. If this was the case, it certainly would have been stupid to let billions of dollars expire.
Another question is the type of stock that was sold.
According to Eric Schmidt (see Matt Cutts' blog): "Execs around IPO time were required to enter into 10b5 plans as part of best practices."
He didn't go into specifics, but the plans may have been written so that execs had to sell a certain amount of shares at certain times or at certain prices.
Google may have had a major influence, but also factor in that many oil execs live in CA. And real estate sales (as the article mentioned). Another small, but probably noticible, effect is the new extra 1% state tax imposed on people making over $1 million.
