Google’s AI Strategy Pays Off, Enriches Co-founders by $18 Billion

Artificial intelligence is taking the world by storm in the present scenario. As a result of the surge in artificial intelligence and the launch of an updated search engine, Google’s co-founders have gained over $18 billion in combined wealth.

Also Read: Global Aviation Body Lowers India’s Rating Due to Go First Controversy

Larry Page and Sergey Brin, according to the Bloomberg Billionaires Index, saw their net worth increase by $9.4 billion and $8.9 billion, respectively, this week, bringing their total net worth to $106.9 billion and $102.1 billion. This marks their largest weekly gain since February 2021.

At its annual developer conference on Wednesday, Google announced its plan to experiment with a search engine that facilitates more natural and conversational interactions. The company has also expanded the availability of its AI-powered chatbot, which is contributing to its increasing dominance in a highly competitive market. As a result, Alphabet Inc., Google’s parent company, experienced a nearly 1% increase in its stock value in New York on Friday, following an 8.6% surge over the preceding two days.

Also Read: India’s CPI Inflation Drops Below RBI’s Tolerance Limit for First Time in 14 Months

Page and Brin, who have increased their involvement in the company and have been contributing to the advancement of AI technology, have seen a significant increase in their wealth. Each of them has added over $22 billion to their net worth, making them the eighth- and ninth-richest individuals in the world. Eric Schmidt, Google’s former CEO, has also profited from the surge in AI development. He has invested in several startups in this field and has resisted calls to reduce the pace of research, citing concerns about China’s progress in the technology sector.

The majority of his wealth, amounting to $23.6 billion, is still invested in Alphabet, where he holds the position of the third-largest individual shareholder. Over the course of this week, his net worth has increased by $1.8 billion.