NEW YORK - Bill Gates sold nearly 8 million shares of Microsoft over the past two days, ceding his position as its largest individual shareholder for the first time in the company's history.
Gates, who founded Microsoft, now owns roughly 330 million shares of the tech giant.
That puts him behind former Microsoft chief executive officer Steve Ballmer who owns 333 million shares.
Ballmer, who was Microsoft's CEO until earlier this year, was one of Gates' first hires.
It's a passing of the torch for Gates who has always been the largest single owner of his company's stock. Gates now spends his time and personal fortune helping run the Bill & Melinda Gates foundation.
The foundation has spent $28.3 billion fighting hunger and poverty since its inception back in 1997.