Over time, with many others buying up new share offerings, her percentage of the shareholding went down to 2.1%.
The company says the share offerings pay for new investments and that its profits more than justify the high dividends.
A Google spokeswoman declined to comment about the company's share offering.
Other countries have sold off their banks through share offerings and other mechanisms.
One almost certain outcome is that the banks will soon make share offerings.
It has already added to equity this quarter by raising $276 million through a share offering.
The new corporate structures permit capital to be raised from additional sources, including public share offerings.
It also plans to offer 24 percent of the company in a public share offering.
The banking company also said it would split its stock after the share offering.
The share offering, which could fetch as much as $100 million based on the company's current market value, is planned for March.