Microsoft Stock Surges Up 7%; Ballmer $769 Million Richer
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Microsoft stock is surging on the announcement that CEO Steve Ballmer will be retiring. Some of this is of course due to sentiment analysis and also due to the dive the stock took after last quarter’s earning results. I wouldn’t read too much into this, the stock can quickly go down as it has gone up. If some investors had their way, Microsoft would sell off Bing and Xbox. AllThingsD reports
According to Microsoft’s latest proxy, Ballmer owns 333,252,990 shares of the company. At yesterday’s closing price of $32.39, they were worth approximately $10.794 billion. But this morning, after Ballmer disclosed his retirement plans, Microsoft’s share price rose some seven percent, pushing the value of Ballmer’s stake to $11.563 billion, and making him $769 million in the process.
Source: AllThingsD
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