$2.3 bn payout! Google founders Larry Page, Sergey Brin earn this whopping amount, AFTER quitting
It would be a dream come true if you could continue to make money even after quitting your job! Seems like the same has happened with Google founders Larry Page and Sergey Brin, who recently stepped down from the day-to-day management of Alphabet Inc.
It would be a dream come true if you could continue to make money even after quitting your job! Seems like the same has happened with Google founders Larry Page and Sergey Brin, who recently stepped down from the day-to-day management of Alphabet Inc. The duo has got an unbelievable amount as their parting gift. According to a Bloomberg report, Page and Brin got a $2.3 billion parting gift from investors. Both Page and Brin added more than $1 billion each to their net worth as the firm’s shares rose 1.9 per cent after the announcement.
Notably, Page and Bin each own about 6 per cent of the internet giant and still control Alphabet through special voting shares. "It’s impossible to overstate Larry and Sergey’s contributions over the past 21 years. I’m grateful that they will continue their involvement on the Board," John Hennessy, Chairman of Alphabet’s Board of Directors, said about their contribution.
After their resignation, Google CEO Sundar Pichai has been appointed as the new Alphabet CEO as well. "Sundar Pichai, the CEO of Google, becomes the CEO of Google and Alphabet. He will remain the CEO of Google, and assumes the role of managing Alphabet’s investment in its portfolio of Other Bets. Pichai will remain a member of Alphabet’s Board of Directors," the tech giant had said, earlier this week, in a statement.
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Pichai said that he is excited about Alphabet and its long term focus on tackling big challenges through technology.
"I’m looking forward to continuing to work with Larry and Sergey in our new roles. Thanks to them, we have a timeless mission, enduring values, and a culture of collaboration and exploration. It’s a strong foundation on which we will continue to build," Pichai added.
According to Bloomberg Billionaire's Index, Larry Page has a net worth of $63 billion while Sergey Brin's net worth stands at $62 billion. They remain seventh and eighth richest man globally, respectively.