"Google, now part of Alphabet ( NASDAQ: GOOG), was founded in 1988 by Sergey Brin and Larry Page. Each has become a billionaire many times over. Alphabet received a favorable opinion this week in the antitrust case brought against it by the Department of Justice. The stock rallied on the news, and this added to each man's net worth. The Bloomberg Billionaires Index shows that each has added $2 billion to their net worth this year."
"Alphabet's stock has had an extraordinary run in the last five years as part of the current bull market. The S&P 500 is up 89%. Alphabet's shares are up 196%. Alphabet is the fourth most valuable company in the world, with a market value of $2.84 trillion. Brin and Page each own about 3% of the company. Because there are two share classes, from a voting control standpoint, they have the final decision on anything they want to."
Brin's net worth is $193 billion and Page's $206 billion, each up $2 billion this year. Alphabet's shares rose 196% in five years and the company is valued at $2.84 trillion. Brin and Page each own about 3% and retain final control via dual share classes. Google Search holds about 90% market share, Chrome 68%, and YouTube dominates U.S. video. Quarterly revenue rose 14% to $96.4 billion and EPS to $2.31; core ads were $82.5 billion and cloud revenue grew 32% to $13.6 billion. Alphabet plans to spend $85 billion on AI. A judge noted AI "changed the course of this case" and could erode search share.
Read at 24/7 Wall St.
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