Google’s co-founder is currently worth more than $52 billion. How did he get there, and how much does he earn?
In the age of social media, great entrepreneurs who founded some of the world’s most popular websites became celebrities in their own right, whether Mark Zuckerberg had a biopic written about him or Reddit co-founder Alexis Ohanian married Serena Williams.
However, not everyone is familiar with the identities of the founders of Google, the most influential website in the growth of the internet. The search engine was launched in 1998; 21 years later, it is the most popular website on the internet, with its name becoming not only a domain name but also a verb. Sergey Brin was one of the co-founders. The other is Larry Page, the current CEO of Alphabet Inc. (GOOGL) – Get Alphabet Inc. Class A Report, Google’s parent company.
As co-founder and current CEO of Google, Page is unquestionably one of the wealthiest persons on the planet. However, how much is he truly worth?
As co-founder and current CEO of Google, Page is unquestionably one of the wealthiest persons on the planet. However, how much is he truly worth?
Larry Page’s Net Worth
Larry Page is estimated to be worth roughly $52.4 billion as of March 4, 2019, according to real-time data from Forbes. According to the most current Forbes 400 list, Page was placed sixth among the country’s wealthiest individuals. Only Jeff Bezos, Bill Gates, Warren Buffett, Mark Zuckerberg, and Larry Ellison were ahead of Page.
Page is marginally more wealthy than Brin, his co-founder and current president of Alphabet Inc. Forbes estimates Brin’s net worth to be $51.3 billion as of this writing.
Larry Page’s Career
Larry Page grew up in a household that was heavily reliant on computers decades before they became standard household items. Page’s parents, both of whom were born in 1973, were pioneers in the field of computing, eventually becoming professors at Michigan State University.
With computers in the house from an early age, Page got hooked with learning about them and, like his father, opted to focus his schooling on them. He received his undergraduate education at the University of Michigan, where he majored in computer engineering. He then moved to California to get his master’s degree at Stanford University.
Google and Larry Page
Stanford is where Google’s seeds were sown. Page sought a topic for his dissertation and chose the internet, more precisely how web linkages work and interact. As a result of this, he ended up collaborating with a fellow Stanford graduate student in one of his classes: Sergey Brin. This research endeavor was dubbed “BackRub.”
Due to Page’s emphasis on the mathematical aspects of web connectivity, he viewed the structure of links as a graph. He constructed a web crawler to collect back links, and then collaborated with Brin to create an algorithm for determining the value of links and websites. This algorithm, PageRank, is still employed by Google today.
Page and Brin recognized the project’s search engine potential based on its ability to find the most relevant website for a query. After playing with it and hosting it on Stanford’s website, the two formed Google, Inc. in 1998. Google flourished and expanded swiftly over the next few years, becoming one of the biggest triumphs of the dot com boom. The system indexed an increasing number of webpages, and the site expanded in lockstep with the company.
Page was the company’s initial CEO, serving in that capacity until 2001. To allay the anxieties of some new investors who have invested tens of millions of dollars in the company, Page agreed to resign as CEO and take on the role of President of Products. Page was succeeded as Chairman by Eric Schmidt, who had greater experience in the CEO post over his career. While Page was no longer CEO, he had significant influence over the company’s operations as one of the original founders. And Page’s departure as CEO surely did not prevent him from becoming a billionaire following Google’s 2004 initial public offering.
Additionally, Page retained influence over decisions that proved to be extremely profitable for the corporation in his new role. For instance, he was instrumental in Google’s acquisition of Android, which grew to become one of the world’s most popular mobile operating systems. Google also acquired a relatively new video-hosting website called YouTube during this decade.
Schmidt stepped down as CEO after a decade, and Page reclaimed the position in 2011.
Salary of Larry Page
Page is, of course, one of the world’s wealthiest men. And, like many other CEOs who are among the world’s wealthiest, Page does not profit from his actual income. His Google salary is reportedly $1.
Of course, that is very easy to accomplish when one owns a large portion of one of the world’s most successful corporations, as Page does. He still owns tens of millions of Alphabet shares.
Investments of Larry Page
As with so many others in his position, Page invested a portion of his income after accumulating billions. While the returns on these investments are negligible in comparison to his Google revenues, he has invested in several interesting startups.
The most well-known company in which Larry Page has invested is Tesla (TSLA) – Get Tesla Inc Report. In the mid-2000s, Page spent $40 million in Elon Musk’s auto startup, years before Musk became a big name.
When it comes to investment, Page appears to have a genuine passion for automobiles. More precisely, he’s developed a genuine interest in flying automobiles. This includes investments in Kitty Hawk and Opener, another start-up.
Larry Page’s House
Page purchased a property in Palo Alto for approximately $7 million in 2005. The mansion is almost 8,000 square feet, and Page spent several years afterward purchasing properties in the neighborhood, eventually using the area to build a 6,000-square-foot eco-friendly house with solar panels.
And if you’re interested in the enormous, costly items that wealthy people enjoy purchasing, you’re in luck; in addition to flying cars, Page is rumored to have spent $45 million on a luxury yacht dubbed “Senses.” This 193-foot superyacht features a helipad, six decks, a gym, and luxurious suites. You know, in case he becomes dissatisfied with his two colossal homes.
