Billionaire Larry Page to Sell $148 Million of Alphabet Stock: What the Filing Shows

Three trusts tied to the Google co-founder have filed to sell about half a million shares. The more consequential seller of Alphabet stock this year is Alphabet.

Trusts linked to Larry Page have given notice that they intend to sell about $148.3 million of Alphabet stock. The Form 144 filings, made after the market closed on Thursday, November 12, 2026, cover 253,840 Class A shares and the same number of Class C shares, to be sold through J.P. Morgan Securities under a Rule 10b5-1 plan adopted on November 30, 2020.

A founder selling stock two weeks after a 12.6 percent one-day fall in his company’s shares will draw attention. The Larry Page Alphabet share sale deserves less of it than the headline number suggests, and the reason is arithmetic. The shares amount to roughly one-eighth of 1 percent of his super-voting stake, they follow a calendar set six years ago, and they do nothing to the control he and Sergey Brin hold over the company. Investors worried about new Alphabet shares reaching the market should look at the issuer, which sold 36 million of them last quarter.

What the Larry Page Alphabet share sale covers

The Lawrence Page Trust accounts for most of the notice, with 227,060 shares of each class. Two smaller vehicles, Lawrence Page Trust II and Trust III, add 9,760 and 17,020 of each. The filings value the Class A block at $74.5 million and the Class C block at $73.8 million. Those are estimates; Form 4 reports, due within two business days of each trade, will show what the shares fetch.

None of this is new stock in Page’s hands. The Class A shares came out of a grantor retained annuity trust in 2006, and the Class C shares arrived through the stock dividend the company paid in 2014.

The trusts have been selling on the second Thursday of the month. On August 13, September 10 and October 8, 2026, each sale comprised 62,980 Class A and 62,980 Class C shares, for combined proceeds of about $128.9 million. Notices have appeared at four-month intervals: November 13, 2025, then March 12, July 9 and November 12, 2026. The latest share count divides evenly into four tranches of 63,460 per class, which is consistent with four more monthly sales, though the filings do not spell out a schedule.

CEOWORLD Magazine calls this pattern metered liquidity: a founder turns a sliver of a concentrated holding into cash at fixed intervals, with the terms set years in advance and the control shares left alone. The Rule 10b5-1 plan is what makes it work. It commits the seller to a timetable adopted when he had no inside knowledge of the quarter in which the sales would land.

A rounding error against a $116 billion stake

Alphabet’s 2026 proxy statement credits Page with 389,051,160 Class B shares as of April 6, 2026. Class B stock does not trade, but each share converts into one Class A share. At the Class A closing price of $298.70 on November 12, that holding is worth about $116 billion, before counting whatever Class C stock his trusts own.

Against that, 507,680 shares is 0.13 percent. If the trusts filed three notices of this size every year, they would need more than 250 years to sell an amount equal to his Class B position.

The sale has no bearing on control. Class B shares carry ten votes each, Class A shares one and Class C shares none. Page held 27.4 percent of Alphabet’s voting power at the proxy date and Sergey Brin 25.3 percent, a combined 52.7 percent. The trusts are selling only single-vote and non-voting stock. The 253,840 Class A votes being given up represent less than two-thousandths of 1 percent of the total.

Alphabet is the larger seller

The price backdrop explains why a routine notice made news. Alphabet reported third-quarter results on October 28, 2026. Revenue rose 25 percent to $127.6 billion and Google Cloud revenue more than doubled to $30.7 billion, but earnings per share fell to $2.12 from $2.87 after an $8.7 billion loss on equity investments. Capital expenditures reached $51.4 billion, more than twice the year-earlier figure, and free cash flow was negative $9.1 billion. The Class A shares dropped 12.6 percent the next day, to $283.82. At $298.70 they sit about 27 percent under their 52-week high of $408.61.

Alphabet has stopped buying its own stock and started selling it. The company repurchased $39.8 billion of shares in the first nine months of 2025. In the first nine months of 2026 it issued $42.9 billion of common stock and $19.1 billion of mandatory convertible preferred, including a $10 billion private placement with Berkshire Hathaway priced at $351.81 per Class A share. Through its at-the-market program alone, Alphabet sold 12 million Class A and 24 million Class C shares in the third quarter for $12.4 billion.

Set beside that, Page’s notice is small. It covers about 1.4 percent of the shares Alphabet itself issued through the program in a single quarter. CEOWORLD Magazine’s reading is that for anyone modeling dilution or supply, the founder’s trusts are noise and the treasury is the signal. Berkshire, for what it is worth, is sitting on a paper loss of about 15 percent on its Class A purchase.

“Insider sales should be measured against two numbers: the size of the holding and the age of the plan. On both counts this one is routine. The company’s own decision to fund its investment with new shares deserves closer study,” said Prof. Dr. Amarendra Bhushan Dhiraj, an economist, geopolitical thinker, psychoanalytic theorist of money, and public intellectual.

Why the founders can afford the dilution

Equity issuance usually costs founders influence. Alphabet’s three-class structure limits that cost. Class C stock exists to raise capital and pay employees without adding votes, and the third-quarter program sold two Class C shares for every Class A share.

Class A issuance does erode the founders’ majority, slowly. CEOWORLD Magazine’s calculation from the proxy figures is that Alphabet would have to issue roughly 780 million new Class A shares, about $230 billion of stock at current prices, before Page and Brin’s combined voting power fell to 50 percent, assuming neither converts or sells Class B stock. The company has said it expects capital expenditures to rise significantly again in 2027, so the question is live, though the cushion is wide.

Page himself, 53, has kept a low public profile since he handed the chief executive’s job to Sundar Pichai in December 2019. He is still a director. His selling tells investors nothing about his view of the 2027 spending plan, because the trading plan that governs it predates Alphabet’s artificial intelligence build-out by years.

Executive takeaways

• What changed. Page’s trusts filed to sell 507,680 Alphabet shares worth about $148.3 million, continuing a monthly program under a trading plan adopted in November 2020.
• Why it matters. The sale is immaterial to his holding and irrelevant to voting control. The material change in Alphabet’s share count this year comes from the company, which has moved from $39.8 billion of buybacks to about $62 billion of equity issuance over comparable nine-month periods.
• What leaders should do next. Boards and investor-relations teams at founder-led companies should note how little disruption a long-dated, calendar-driven plan causes, even when it lands after a 12 percent share-price fall. Investors should weigh insider sales against the size of the holding and the age of the plan before reading intent into them.

The larger uncertainty is how long Alphabet funds its build-out with new shares. The numbers to watch are the capital expenditure guidance for 2027, the amount still unsold under the $40 billion at-the-market program and the mix of Class A and Class C stock the company issues. Page’s next notice, if the four-month pattern holds, would arrive in March 2027 and should be read the same way as this one.

Key insights and takeaways

• Three trusts tied to Larry Page filed on November 12, 2026 to sell 253,840 Class A and 253,840 Class C Alphabet shares, valued at about $148.3 million, through J.P. Morgan Securities.
• The sales fall under a Rule 10b5-1 plan adopted on November 30, 2020; the trusts sold about $128.9 million of stock in three monthly sales from August to October 2026.
• Page held 389,051,160 Class B shares at April 6, 2026, worth about $116 billion at current prices, so the planned sale equals roughly 0.13 percent of that stake.
• Page and Sergey Brin control 52.7 percent of Alphabet’s votes through ten-vote Class B stock, which the sale does not touch.
• Alphabet issued 36 million shares for $12.4 billion through its at-the-market program in the third quarter of 2026, about 70 times the number of shares in Page’s notice.

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