Bill Gates no longer Microsoft's biggest shareholder

Bill Gates sold nearly 8 million shares of Microsoft over the past two days.

NEW YORK (CNNMoney)

In the past two days, Gates has sold nearly 8 million shares of Microsoft (MSFT, Fortune 500), bringing down his total to roughly 330 million.

That puts him behind Microsoft's former CEO Steve Ballmer who owns 333 million shares.

Related: Gates reclaims title of world's richest billionaire

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.

First Published: May 2, 2014: 5:34 PM ET

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