Larry Page and Sergey Brin's fortunes increased by $18 billion this week, thanks to Alphabet's stock rising after the launch of an AI-powered search engine.
Larry Page's fortune increased by $9.4 billion to $106.9 billion this week, according to the Bloomberg Billionaires Index. Sergey Brin's fortune increased by $8.9 billion to more than $102 billion. This is the biggest weekly increase in the fortunes of the two Google co-founders since February 2021.
At the Google I/O developer event on May 10, Alphabet – Google’s parent company – said it will start testing a search engine with better communication capabilities. They will also popularize chatbots integrated with artificial intelligence (AI) more widely.
This will help Alphabet consolidate its dominance in this increasingly competitive field. Alphabet shares closed up 1% on May 12, after soaring 8.6% in just two days.
Sergey Brin (left) and Larry Page (right). Photo: CNBC .
Page and Brin have recently become more involved in Alphabet's operations and are pushing the use of AI. The two billionaires are also among the year's biggest gainers, each adding $22 billion since the start of the year. They are now the eighth and ninth richest people in the world .
Former Google CEO Eric Schmidt has also benefited from the AI boom, investing in startups in the field and resisting calls to slow down research due to concerns about China's technological development.
Schmidt's fortune is tied up in Alphabet stock, where he is the company's largest shareholder. This week, Schmidt added $1.8 billion to his fortune, bringing his total to $23.6 billion.
Ha Thu (according to Bloomberg)
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