Bill Gates sells 5 million shares of Microsoft

Jul 30, 2011 |

New York

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Microsoft co-founder Bill Gates has sold five million shares in the US software giant, less than one percent of his holdings, according to a filing with the Securities and Exchange Commission.

Gates, Microsoft's chairman, sold the shares on Wednesday at prices ranging from $27.20 to $27.98, the SEC filing said, which would amount to nearly 138 million dollars.

No reason was given for the sale.

According to the SEC filing, Gates holds nearly 551 million shares of Microsoft following the transaction.

Gates stepped down from day-to-day duties at the Redmond, Washington-based Microsoft in June 2008 to concentrate on global health care through the Bill and Melinda Gates Foundation.

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