Larry Page's Fortune: A Look at His Wealth
In a humble garage in Menlo Park, California, in 1998, Larry Page and Sergey Brin, two ambitious computer science students, launched Google, a search engine with a mission to "organize the world's information and make it universally accessible and useful."
Google's initial algorithm ranked web pages based on the number and quality of links pointing to them. The search engine quickly gained popularity, and by the turn of the millennium, it had become a household name.
Fast forward to October 2015, Google rebranded itself as Alphabet, a move that marked its transition from a search engine to one of the world's most influential technology businesses. Alphabet was created to better reflect the diversified nature of Google's businesses and services, which now include advertising, mobile operating systems, cloud services, and artificial intelligence (AI).
Larry Page, one of the wealthiest people in the world with a net worth of $143 billion, ranked 6th on the Bloomberg Billionaire Index, co-founded Google with Sergey Brin. Originally, they named their search engine "Backrub."
The creation of Alphabet was not just a rebranding exercise. It was also a strategic move to give the founders more time to focus on new ventures, such as prolonging human life through AI and self-driving vehicles. Google has faced increasing regulatory scrutiny, particularly in Europe, and creating Alphabet made it easier to avoid such scrutiny.
Despite Nvidia recently dethroning Microsoft to become the world's most valuable company, Alphabet remains part of the 'magnificent seven stocks', a group of the biggest tech companies. Google has a market capitalization of $2.27 trillion.
Artificial intelligence has added more than $18 billion to Larry Page and Sergey Brin's combined wealth. Alphabet's long-term goal is to allow the founders to look to the future and follow their own interests.
Google's goal was to make their search engine the most effective in the world. Today, Alphabet continues to innovate and push the boundaries of technology, all while staying true to its roots as a search engine that aims to organize the world's information and make it universally accessible and useful.
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