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George Lucas To Sell $2 Billion In Disney Shares

George Lucas To Sell $2 Billion In Disney Shares

George Lucas, who sold his studio Lucasfilm to Disney last year, is looking to unload over 37 million shares, or about $2 billion worth, his entire stake in the Mouse. Disney purchased the studio last year for $4 billion.

According to the filing, The George W. Lucas, Jr. Fourth Amended and Restated Living Trust could sell 37,076,679 million shares of Disney "from time to time" until the trust no longer holds any of the stock.

When Lucas announced the deal in October, he said Disney could give his films a "longer life," and his willingness to sell off all his shares appears to show his complete trust in Disney's future Star Wars decisions.

Lucas has also said he is looking forward to using the money for philanthropic ends:

"As I start a new chapter in my life, it is gratifying that I have the opportunity to devote more time and resources to philanthropy."

by RTT Staff Writer

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