Microsoft CEO Satya Nadelle has decided to sell most of his shares. Here are the details…
Tech billionaires can’t get rid of the tax scourge. After selling shares owned by Tesla and SapceX CEO Elon Muskin recent weeks, now Microsoft CEOSatya Nadella has come up with similar news.
The CEOof the US tech giant has sold his stake, which has a total value of $300 million, the Wall Street Journalreported. A Microsoft spokesman said it amounted to half of Nadella’s shares in the company. Here are the details…
Is Microsoft CEO Satya Nadella avoiding tax?
This decision, which is quite shocking, also has negative effects on the company. In particular, it is thought that this is the reason for the recent decline. So why did Satya Nadellesell her Microsoft stake? Nadella’s decision is thought to have been influenced by a Washington state law that is scheduled to take effect in 2022 and imposes a 7 percent tax on long-term capital gains of more than $250,000.
So just like Elon Musk, nadellesells because it prevents paying more tax. Although not billions, the Ceoof Microsoft also made a pretty good profit from this sale. According to reports, Satya generated more than $285 million in revenue from the transaction.
Although it’s highly unusual for a CEO to sell shares in the company he runs, Satya doesn’t do it because he failed. Microsoft’svalue has increased by nearly 780 percent since Nadellawas appointed CEO. The company now has a market capitalization of about $2.53 trillion. That makes the tech giant the most valuable company in the world.