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A billionaire who owns a large chunk to have arsenal English Soccer Club is one of DST’s owners. (Bloomberg News)

Larry Page and Sergey Brin, the two billionaire co-founders of Google, will each sell 5 million of their Google shares over the next five years, according to an SEC filing.

Since Page and Brin are significant shareholders and executives for the technology giant, they are required to report their transaction plans for their piece of the company they founded over a decade ago.

Currently the two men own approximately 57.7 million shares of Google – about 18% of Google’s market value and 59% of the voting power. After the five year plan is complete, they will own around 47.7 million shares, dropping their interest in Google to around 15% of its capital stock and 48% of its voting power. This equates to a transaction of $2.25 billion, based on the current value of a share of Google, $550.01.

Yes, this technically means that the two co-founders are surrendering their absolute voting control of the company, but it’s incredibly hard to see a situation where every other investor and shareholder in the company would vote against their wishes. In other words, the drop in their voting power is not a big deal.

Why would the founders sell their shares of Google, especially as the stock has risen dramatically in recent years? The answer is diversification, one of the most prudent and practical moves in investing. It’s the same thing that Bill Gates has done for years in order to diversify his profile and give him the flexibility to invest in other endeavors, such as his foundation. In fact, the founders have done something similar before, back in 2004.

Larry and Sergey aren’t leaving anytime soon, nor are they going to be outvoted by anybody in the foreseeable future. They just wanted more flexibility with their money. $2.25 billion can buy a lot of things, you know.

Tags: finance, Google, investing, larry page, Sergey Brin, trending

While privacy watchdogs, security firms and users digest the implications of Facebook’s new privacy settings, at least one high-profile individual is embracing them: Facebook Founder and CEO Mark Zuckerberg.

TrueSlant seems to have been first to notice that the usually very private Zuckerberg has opened up his profile so that anyone can see his wall, photos and events. While their report speculates that perhaps Zuckerberg doesn’t understand the new settings, it’s far more likely that he’s simply opened up to try and show everyone else that it’s okay to do so.

So what’s in Zuck’s profile? Not too much of interest that you wouldn’t expect from your typical twenty-something billionaire. The CEO’s wall reveals he actively uses the site’s commenting and “like” features. His photo album is far from scandalous, although Gawker has rounded up their “favorite” images. And he’s apparently a fan of Lady GaGa, The Oprah Winfrey Show and location-sharing service Gowalla.

Opening up is certainly a smart, if not highly calculated, move by Zuckerberg, who would look hypocritical in saying that the site is no longer simply about friend connections while simultaneously keeping his profile limited to his friends. That said, it’s unlikely that the move will do much to convince those skeptical of Facebook’s intentions that opening up is really in your best interest.

How have you adjusted your privacy settings since the new rollout? Let us know in the comments.

[img credit: Mark Zuckerberg's Facebook Page]

Tags: facebook, gowalla, Lady Gaga, mark zuckerberg, Oprah winfrey, privacy

We all know that first impressions are powerful things. Billionaire Steven A. Cohen makes the most of first impressions taking a deep breath and holding it before he enters a room. How about you?

Poorly named weblog The Art of Manliness rounds up a few tips for commanding a room, including this interesting nugget from Cohen’s playbook:

Before he makes his appearance, he takes a deep breath, filling all of his lungs. He then holds his breath and walks into the room. As he talks, the air is naturally exhaled. This simple action increases blood to your face and makes you look “more radiant and lively,” and consequently more confident.

By taking a deep breath you force yourself to not only stand up straight, but also give a quick rush of blood to your head, giving you a slightly flushed and cheery look. It might sound silly, but people are always interested in meeting someone with energy and spunk. Just remember to exhale, because no one wants to talk to a corpse—unless it’s Halloween.

Do you have a ritual when meeting people for the first time? Share your first impression rituals in the comments.

Carl Icahn, the famed hard-nosed billionaire and corporate raider who attempted to seize control of Yahoo after the company rejected Microsoft’s $50+ billion acquisition offer, has resigned his position as a member of the Yahoo Board of Directors, according to several reports.

In May 2008, he shook the company started by Jerry Yang (who was CEO at the time) by nominating a “dissident slate” of directors, which would have essentially given him control of the company. In the end, he received control of three seats on Yahoo’s board and eventually helped force Jerry Yang out as Yahoo’s CEO.

As to why he left, he stated that “there was not a need at this time for an activist investor,” according to Marketwatch. With a Yahoo/Microsoft deal now locked in, it seems that that Icahn era of Yahoo has come to a close.

Tags: Yahoo