Larry Page and Sergey Brin's net worth increased by $18 billion this week, thanks to a rise in Alphabet's stock following the launch of its AI-powered search engine.
According to the Bloomberg Billionaires Index, Larry Page's net worth increased by $9.4 billion to $106.9 billion this week. Meanwhile, Sergey Brin added $8.9 billion, bringing his net worth to over $102 billion. This is the largest weekly increase in wealth for the two Google co-founders since February 2021.
At the Google I/O developer event on May 10th, Alphabet – Google's parent company – announced it will begin testing a search engine with improved communication capabilities. They will also be making AI-powered chatbots more widely available.
This will help Alphabet solidify its dominant position in this increasingly competitive field. Alphabet shares closed 1% higher on May 12th. Prior to that, the stock surged 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 actively promoting the application of AI. The two billionaires are also among the top earners this year, each adding $22 billion to their fortunes since the beginning of the year. They are currently the 8th and 9th richest people in the world .
Former Google CEO Eric Schmidt also benefited from the AI craze. He invested in numerous startups in the field and rejected calls to slow down research due to concerns about China's technological advancements.
The majority of Schmidt's wealth is tied up in Alphabet stock. He is currently the company's largest shareholder. This week, Schmidt added $1.8 billion to his net worth, bringing his total assets to $23.6 billion.
Ha Thu (according to Bloomberg)
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