With reports that the US Fed is going to start tapering its monetary policy next month, the founders of Google, are posting record gains in their wealth valuations.
Google founders, Larry Page, 48, and Sergey Brin, 47, have built up significant wealth in 9 months, according to data retrieved from Bloomberg Billionaires Index.
As of mid-October, Larry Page and Sergey Brin had respective wealth valuations of $126 billion and $121 billion – earning $43.2 billion and $41.4 billion during the past nine months. Both men have earned $84.6 billion collectively.
Alphabet CEO, Sundar Pichai succeeded Page as Alphabet COO and president Sergey Brin stepped down from the role in 2019.
Page and Brin also serve as board members of Alphabet, and own 51% of its voting stock. Page and Brin are among the world’s wealthiest people.
Almost all of the fortunes of both billionaires are derived from their shares of Alphabet, the parent company of Google, the world’s largest search engine.
An increase in economic data from America’s service industries and a boom in the tech sector have fuelled recent gains for Google shares. The tech juggernaut’s shares have become increasingly popular with global investors.
Investors expect more upside as Google, which reportedly plans to participate in Joe Biden-administration’s quantum program, will work with the government to combat hacking threats and corner a growing growth industry during this time of heightened security.
IDC research shows that Google has moved into other businesses, including Android, the operating system that accounted for 81 percent of smartphones shipped in the United States in 2015.
Online advertising is provided by Alphabet Inc. in North America, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. This company offers brand and performance advertising.
On October 26, Google is expected to report third-quarter earnings. The relative strength line for GOOGL stock has remained steady. Facebook and Amazon are both facing third-quarter earnings reports that have weakened their relative strength lines.
Although institutional support has weakened, the stock of Google has risen 57% in 2021. The price of Facebook shares has risen 19% this year. Amazon’s stock has risen almost equally.
In mid-October, the world’s most popular search engine company had a market valuation of $1.88 trillion
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