After the sale, Drury will retain 17.7 million shares in the cloud software company, which represents 12.8 percent of the ownership in Xero. Those are worth about $380 million, based on the same per-share price. "Personally, the transaction will provide an important foundation for my future plans to pursue a range of philanthropic and social endeavors," Drury said in a prepared statement. He said the sale stems from strong demand and support from existing and new shareholders. Drury said  Xero "remains my absolute day to day focus as we have so much opportunity."