The leap came after Alphabet shares jumped nearly 6% following the rollout of Google’s Gemini 3 AI model.
Page, who owns about 3.2% of Alphabet, added $7.6 billion to his fortune on Wednesday alone. Sergey Brin, holding 2.9% of the company, gained $7 billion, raising his wealth to $221.1 billion.
According to Forbes, Page and Brin are now the third- and fifth-richest people globally, with Bezos sitting between them at $233.6 billion.
Elon Musk remains the world’s richest person, with a fortune valued at $466.2 billion, followed by Oracle chairman Larry Ellison, whose wealth is estimated at $276.5 billion.
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Larry Page, co-founder of Google. Photo by Reuters |
Page co-founded Google with Sergey Brin in 1998, initially working from a borrowed garage. They developed the PageRank algorithm, which revolutionized internet search by ranking websites based on their link structures. In 2019, the founders stated, "Google is not a conventional company. We do not intend to become one," according to International Business Times.
Page served as Google’s CEO twice: from 1997 to 2001 and from 2011 to 2015. After Google’s restructuring into Alphabet in 2015, Page became president of the newly formed holding company. He stepped down as CEO of Alphabet in December 2019 but remains a member of the board of directors.
Alphabet’s stock has risen by 10% since its latest earnings call last month. The company exceeded investor expectations by delivering its first-ever $100 billion quarter, marking a 16% year-over-year revenue increase. Wall Street’s confidence in Alphabet has also strengthened following Warren Buffett’s revelation of a $4.3 billion stake in the company. This move shocked investors, given Buffett’s usual hesitation toward tech companies with steep growth trajectories, according to CNBC.
Alphabet’s next earnings call may highlight the success of its Gemini 3 model, building on the previous earnings call's focus on the growing momentum of Google Cloud.