Founders of the internet search engine, Google Larry Page, 48 and Sergey Brin, 47 have earned $42 billion dollars in the first quarter of 2021.
With a total worth of $104 billion, Page has earned $21.2 billion in 100 days, while his founding partner, Sergey Brin, with a wealth valuation of $100 billion, has earned $20.4 billion in the same period.
The majority of Larry Page’s wealth comes from his stake in Alphabet, the parent company of Google. The Standford trained entrepreneur currently holds $12.6 billion in cash.
Sergey Brin’s wealth valuation is also derived from his stake in the world’s most popular search engine and presently, his cash holding is valued at $12.7 billion, Nairametrics noted.
The growth of the United States economy is said to have boosted the buying pressure on Google shares, leading to a surge in the founders’ gross income and wealth.
Global investors are increasingly holding on the tech juggernaut’s shares as amazing economic data from America’s service industries coupled with an advance in the tech sector fueled the hike in Google shares seen in recent months.
After winning the long standing US Supreme Court case against Oracle, financial reports note that investors consequently invest significant amount of funds into Alphabet Inc. the parent company of Google.
The search engine’s recent price action reveals the stock presently, is trading at $2,285.88 closing its 52-week high of $2,289.04 with a yearly return on investment currently pegged at 89%.
Stock experts have expressed surprise by such record gains in Google shares despite a swift move seen lately by some institutional investors into utility, energy-based stocks and of late U.S Treasury bonds.
Alphabet Inc currently is said to have a market value of about $1.54 trillion.
The recent earnings of Page and Brin at $41.6 billion, is collectively much more than the total foreign cash reserve holdings of Africa’s biggest economy.
It also surpasses Nigeria’s foreign cash reserve which stands at a gross valuation of $35 billion by $6 billion.