Google founders giving up control

Larry Page and Sergey Brin, who launched a revolution when they founded Google a decade ago, are giving up majority control of the company by 2014.

They're selling 5 million shares of Google over time to prevent a major one-time impact on the stock market.

The strategy means Page and Brin will control less than half the voting power of Google shares by the time their plans are completed. And other stockholders will have a bigger say in the company that changed the way the Internet works.

But like everything this duo does, there is a method to their madness. A statement from Google explains it this way: "They are both as committed as ever to Google and are integrally involved in our day-to-day management and product strategy. The majority of their net worth remains with Google."

The two young entrepreneurs currently control 59 percent of the voting power of Google's stock. By the time their plan is completed, they will control 48 percent of the voting power of Google's stock.

Don't expect to see big changes at this titan. If anything, there will be more diversity in ideas and direction. Page and Brin, however, still have the power to get what they want from the shareholders despite the downsizing of their powerbase.

Just because these two young founders are giving up control doesn't mean that Google won't be rolling out plenty of innovative tools to take the IT world to new and better heights.

For more on Google's founders:
- see this cnet.com article
- see this CNN article
- see this from SFGate.com

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