From Google to Riches: Understanding Larry Page's Financial Success

Larry Page Net Worth- Wealth Overview of one of the Richest Person

Larry Page is the genius cofounder of Google, along with Sergey Brin. Sergey has a combined net worth of $ 115 billion and is also the seventh richest person in the world. Larry Page was also the former CEO of Google (Alphabet-Parent Company) Until he stepped down in 2019. However, Lary Page remains a controlling shareholder and board member at Alphabet.

Key Highlights

  •  Larry Page is the CEO and President of Google's Parent company, Alphabet.
  •  Larry Page and Sergey Brain invented Google's PageRank algorithm and created an Alphabet in 2015.
  • Larry Page receives an annual salary of $1, and his wealth comes from the value of shares in the company.

The Life and Times of Larry Page

Lawrence Edward Page, or Larry Page, as I prefer to call him, was born on 26 March 1973. He is an American Businessman and computer scientist better known for starting Google with his friend Sergey Brin. It is one of the most popular sites on the internet, accounting for more than 92% of global search requests. Today, Larry is one of the richest people in the world. The idea of merger and acquisition significantly adds to Larry Page's Net worth.

About Larry Page 

The Begining 

Larry's father was a computer science Professor at Michigan State University. He earned a computer engineering degree from the University of Michigan in 1995. He then joined the doctoral program at Stanford University, where he met Sergey Brin. They both came up with the idea of improving the ability to extract meaningful information from the vast data accumulated on the internet. While working on the project, they came up with a new type of search engine technology. They also focused on back-linking, which means quantifying the number of other pages linked to a specific site. 

Making of Google

They raised approximately $1 million in funds from investors, family, and friends to keep up with their search engine project. They named their improved search engine "Google." By September 1998, they formally established Google Inc., where Page served as chief executive officer. Eventually, Google secured $25 million in venture capital funding and was handling 500,000 queries daily.

Larry's Position

In 2001, Larry Page stepped down from the position of co to take the role of president of other Google products. He was replaced by Eric Schmidt, a technology executive. Larry and Brin remained engaged in Google's management despite this big change. In 2004, the biggest event in Larry's life happened when Google made its initial public offering. This brought him more than $3.8 billion. He demonstrated his commitment to Google and expanding services beyond internet searches. In 2006, Google acquired YouTube, the most popular platform for user-submitted videos, with $1.69 billion.

A Significant Change

Again, in 2011, Page resumed the role of CEO at Google. In 2015, Google went through a significant change in its corporate structure when it became a subsidiary of its newly established holding company, Alphabet. Page assumed the CEO position at Alphabet, but in 2019, he left his role and continued to serve as Alphabet's board director.

Why is Larry Page so rich? 

Larry Page is incredibly rich due to his innovative abilities and leadership role at Google. Along with his friend Sergey Brin, Larry Page co-founded Google in 1998, which has completely dominated the search engine world and provided access to information to millions and billions of people all over.

Google expanded beyond search engines and ventured into various areas like cloud computing, smartphones, online videos, and self-driving cars. Some of his important acquisitions like YouTube, Android, and double-click have made him one of the richest people in the world.

If we look at Google's primary revenue source, it is advertising. Many people widely use the advertising platform Google, which dominates online advertising, contributing to its financial success. Apart from this, Larry Page also holds a significant number of stocks in his portfolio, and the increasing value of these stocks eventually increases his wealth. He has also made significant personal investments beyond Google and Apple, contributing to his financial portfolio overall.

Larry Page Net Worth Overview

As of November 2023, the estimated network of Larry Page is reported to be $116 billion, according to the Bloomberg Billionaires Index. This net worth positions him as the eighth richest person in the world. Like other billionaires worldwide, Larry Page's wealth has increased since the beginning of the Covid-19 pandemic. This is because the online activities during lockdown have substantially increased, contributing greatly to his net worth. His total network surged from $50.8 billion in 2019 to $116 in November 2023.

How many companies does Larry Page own? 

Being the co-founders of Google and Alphabet, Larry Page and Sergey Brin hold ownership stakes in both companies, around 3% of the total shares. The owner of a Technology conglomerate also means they possess shares in all its subsidiaries. If you look at Alphabet, the parent company has over 200 mergers and acquisitions, leading to Larry Page owning these numerous companies. Here are some of the most significant acquisitions under the Alphabet, where Larry Page holds partial ownership or investment.

1. Alphabet

In October 2015, Larry Page and Sergey Brin announced a vital restructuring of Google that led to the creation of Alphabet. The Alphabet was created to collect companies and products under Google. Now, where Google was previously acting as an umbrella company, Alphabet became Google's parent company. It is worth $2 trillion and is the third most valuable company in the world.

2. Google

Google is one of the most influential companies all over the world. It provides diverse internet services and products like Google Cloud, Google Maps, Google Play, Google Search Android, Chrome, hardware, and YouTube. In 2002, Yahoo attempted to acquire Google for $3 billion, but Page and Brin declined the offer. After two years, in 2004, Google went public with a valuation of $27 billion. Today, Google generates $200 billion in annual revenue and employs nearly 300,000 individuals proudly known as Googlers.

3.  YouTube

 YouTube is a video-sharing platform and is one of Google's earliest and most significant acquisitions. It was founded in 2005 as a platform for video dating profiles; however, due to user feedback, it changed to a free video hosting platform for a wide range of content. YouTube rapidly gained popularity, and within just 18 months of its founding, Google acquired it for $1.65 billion. This acquisition proved most significant for YouTube and Google, solidifying YouTube's status as a leading video-sharing platform.

4.  Motorola mobility

Motorola was founded in 1928 as a multinational telecommunication company. In 2011, Motorola went through a split, which resulted in the formation of two independent companies, Motorola Mobility and Motorola Solutions. The same year, Google announced its acquisition of Motorola Mobility for $12.5 billion. This was Google's most expensive purchase up to that point. 

5. Waymo

Waymo is an autonomous driving technology company that aims to create the world's most experienced and safest driver. It was originally known as the Google self-driving car project and was established in 2009. In 2016, it disclosed itself as a driving car project, engaged in two independent startup names, and eventually became a subsidiary of Alphabet. The company offers services like taxi rides, trucking, and delivery solutions. 

6. Fitbit

In 2021, Google acquired Fitbit, the health and fitness Technology brand, at $2.1 billion. Fitbit launched its first product in 2009 and experienced rapid success. It went public in 2015, and in 2019, Google announced its acquisition of the brand. Now, it is a subsidiary within Google's computer hardware sector, which works to integrate health and fitness Technology.

What of Google does Larry Page own?

According to the latest Google SEC filing, Larry Page, as an individual, owns most of the class B stocks, which also carry significant voting power. He controls 26.3% of all votes within Google. This ownership structure shows Page's influence over companies' decisions, reflecting his ownership stake in voting power.

Final Words

Larry Page began his journey to Google in 1995 when he, with his friend Sergey Brin, conceived the idea of search engine technology and developed Google. Google has evolved as the world's dominant search engine, which commands over 92% of global search requests. It has also contributed majorly to Larry Page's net worth. The public offering of 2004 made him into the billionaires club, after which he was unstoppable. Now, he is one of the richest people in the world.

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07 Dec, 2023

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