Daily Archives: April 3, 2014

Richard Waters

Google’s founders have just completed a silent coup of their own company – and so far, it hasn’t cost them a dime.

The new class of non-voting Google stock that started trading on Thursday is selling at a discount of around 0.3 per cent to the existing, reduced-voting right shares. If that gap rises above 1 per cent, the company will have to pay out cash to compensate investors: but the narrow spread at the outset suggests that is no longer a risk.