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 rose $9.4 billion to $106.9 billion this week, according to the Bloomberg Billionaires Index. Sergey Brin's fortune added $8.9 billion to more than $102 billion, the biggest weekly gain for the two Google co-founders since February 2021.
At the Google I/O developer conference on May 10, Alphabet, Google’s parent company, said it would begin testing a more conversational search engine. It would also make chatbots powered by artificial intelligence (AI) more widely available.
This will help Alphabet consolidate its dominance in an increasingly competitive sector. 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 become more involved in Alphabet's operations and are pushing AI. The two billionaires are also among the biggest gainers this year, 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 because of 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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