Key facts
- Sergey Brin sold his stake in a New York City real estate fund.
- The sale was conducted through Amphitheatre LLC, an entity affiliated with Brin.
- The fund manager, A&E Real Estate, bought back the shares.
- The stake reportedly sold for six cents on the dollar of the original equity investment.
- This represents a significant loss on the initial investment.
Sergey Brin, co-founder of Google, has divested his stake in a New York City real estate fund, reportedly incurring a substantial loss. Amphitheatre LLC, an entity linked to Brin, sold its shares back to the fund manager, A&E Real Estate. The transaction saw Brin's stake fetch approximately six cents for every dollar of his original equity investment. This represents a significant markdown from the initial value of his stake in the real estate fund.
The specific details of the fund and the exact amount of Brin's initial investment were not disclosed in the report. However, the reported sale price indicates a substantial financial loss for the Google co-founder on this particular real estate venture. The deal involved A&E Real Estate repurchasing the shares from Amphitheatre LLC.