The founder of Google has entered the top 3 richest billionaires in the world. Who has he displaced?
The reshuffle was prompted by the rapid rise in Alphabet's stock, driven by a number of factors
Google co-founder Larry Page has entered the top 3 richest businessmen in the world according to Forbes. Page surpassed Amazon founder Jeff Bezos after a sharp rise in Alphabet shares. The rise was supported by Warren Buffett's purchase of Berkshire Hathaway and the release of a new artificial intelligence model Gemini 3, which could become a new driver for Alphabet shares.
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Google co-founder Larry Page on Nov. 19 surpassed former Amazon chief Jeff Bezos to become the third richest businessman in the world, according to the Forbes Real-Time rankings, which are updated in real time based on quotes.
Page's fortune increased by about $6.4 billion due to his 3.2% stake in Alphabet, Forbes writes. Sergey Brin, who owns 2.9% of the company, has added $5.9 billion, the publication's data show. In the current Forbes ranking, Page and Brin occupy the third and fifth places, respectively.
The richest person in the world, according to Forbes, is Tesla CEO Elon Musk: his fortune is estimated at $467.7 billion. The second position is held by Oracle Chairman Larry Ellison ($277.8 billion). Bezos is placed between Page and Brin in fourth place with a capital of $235.3 billion.
Why is Alphabet's stock rising?
Aphabet shares were up 6.7 percent to $304.25 at the moment on Nov. 19, posting their highest one-day gain since early September and setting a new record, Bloomberg wrote . The reason for the rally was the release of the Gemini 3.0 artificial intelligence model. Wall Street analysts greeted it with positive reviews and suggested that Google was pulling ahead in the race for AI leadership for the first time. At the premarket on Nov. 20, Alphabet's securities were adding another nearly 3%.
Prior to that, quotes jumped due to the disclosure of legendary investor Warren Buffett's Berkshire Hathaway, which bought $4.3 billion worth of Alphabet stock in the third quarter, a rare move for an investor who is usually wary of fast-growing tech companies, Forbes notes.
Alphabet shares are up 10% since the company's last report in October, when the company said it surpassed the $100 billion mark in quarterly revenue for the first time in its history, up 16% from a year earlier. Sales of its Google Cloud division reached $15.2 billion, up 34% year over year.
In its next quarterly report, Alphabet is expected by Forbes to emphasize the results of its new AI model, Gemini 3. Even before the announcement of the new version, MarketWatch noted that the Gemini 3 release could be a catalyst for Alphabet's stock to rise and strengthen Google's position in the AI market.
This article was AI-translated and verified by a human editor
