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Best Buy founder Richard Schulze to sell stock

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Richard Schulze
Best Buy founder Richard Schulze, in an undated photo, holds about 70 million shares of the company.
MPR photo/Tom Weber

Best Buy's founder and largest shareholder, Richard Schulze plans to sell an undisclosed amount of his stock in the consumer electronics retailer.

In a regulatory filling, Best Buy says the planned sales are part of an effort by Schulze to diversify his investments.

Schulze holds about 70 million shares of Best Buy. That's about a fifth of the company's stock.

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Richard Schulze
Best Buy founder Richard Schulze, in an undated photo, holds about 70 million shares of the company.
MPR photo/Tom Weber