Google co-founders Larry Page and Sergey Brin added $93.6 billion to their assets in the first 8 months of 2021.
Larry Page, 48, and Sergey Brin, 47, ended August with net worths of $129 billion and $124 billion, respectively, as they have amassed $47.3 billion and $46.3 billion in profits since the beginning of the year. .
Their gains come from Google’s rising share price. At the end of August, the world’s most popular search engine company had a market value of $1.94 trillion.
Recent gains in Google stocks have been fueled by a wave of economic data from the US service sector and a boom in the technology sector. Global investors are increasingly clinging to the stock of the tech juggernaut.
As of Tuesday, shares gained more than 7 percent in August after closing at $2,909, a record high. A stock rally of this length has not happened since a 10-month run in 2009. Since 2009, stocks have gained the longest in history.
With these gains, Google’s stock is up 78 percent in the past year, surpassing other tech giants and approaching a market cap of $2 trillion. Apple Inc. and Microsoft Corp. are the only companies worth more.
Page and Brin, who are among the world’s richest tech billionaires, own 51% of the voting shares of Alphabet, a special category of stock.
