Google Co-founders Get Richer By $18 Billion In A Week As Alphabet Stock Soars 11% Amid AI Push

Larry Page and Sergey Brin, who co-founded Google in 1998, are currently reaping the rewards of the artificial intelligence frenzy. The Google co-founders got richer by $18 billion last week as the tech giant unveiled a revamped search engine, which fueled Alphabet's stock to soar 11%.

Larry Page & Sergey Brin Gain As Google Shares Jump

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Larry Page¡¯s net worth increased by $9.4 billion last week to $106.9 billion, while Sergey Brin¡¯s rose $8.9 billion to $102.1 billion, according to the Bloomberg Billionaires Index. That was their biggest weekly gain since February 2021. Whereas as per Forbes, too, the Google co-founders got richer by a combined $18 billion (Larry Page $9.2 billion and Sergey Brin $8.8 billion)

Shares of Google parent Alphabet jumped to the highest they¡¯ve been since August 2022. Alphabet's shares have jumped more than 31% this year to date, currently trading at $117.51.

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Google's AI Push

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After months of criticism that Google, where much of the technology fueling the current AI arms race had first been developed, was falling behind in the field, the tech giant unveiled a slate of AI-focused products at its annual developer conference, Google I/O, last week, thus pushing up the stock. Google Bard was launched in India as well last week, after initially being available in US and UK.

The event, as per Forbes report aimed to re-establish the tech giant¡¯s position as an ¡°AI-first company,¡± a goal CEO Sundar Pichai first announced at Google I/O seven years ago. Shares of Alphabet ended the week up by 11%, making Page and Brin two of the week¡¯s biggest billionaire gainers.