$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.
WATCH Zee Business TV LIVE Streaming Online -
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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
12:53 PM IST