The key outlet for that philanthropy has been The Schmidt Family Foundation, founded by Schmidt and his wife Wendy in 2006. According to the company's latest proxy filings from April, Schmidt held shares worth about $4.9 billion and maintained 5.6 percent voting control over the company. Page and Brin together control a majority of the votes with shareholdings worth four times as much apiece. A spokeswoman said Schmidt was not selling any shares as part of the transition. In October 2015, Google launched a new structure that made Alphabet Inc. the holding company for Google and related businesses. Some of those "other bets" include self-driving cars, smart thermostats and internet-delivering balloons. On recent earnings calls, Google CEO Sundar Pichai has addressed investors with CFO Ruth Porat. Alphabet shares were down less than a percent in after-hours trading at $1,070.85.