Microsoft CEO Satya Nadella has sold around 50% of his stake in the company. In two days, on November 22 and 23, he sold 838,584 shares for $285.4 million. Before that, Nadella owned about 1.7 million Microsoft shares.
A Microsoft spokesman told The Wall Street Journal:
"Satya has sold about 840,000 shares of his stake for personal financial planning and diversification reasons. He is committed to the continued success of the company and his holdings significantly exceed the holding requirements set by the Microsoft Board of Directors."
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
According to analysts, Nadella has decided to sell his shares due to the fact that as of early 2022 the state of Washington is imposing a 7% tax on long-term capital gains in excess of $250,000 per year.
Satya Nadella has been the CEO of Microsoft since 2014. During this time, the company's stock price has increased 9-fold: from about $37 per share in early February 2014 to $336.63 on November 29, 2021.