Founders of Google rake in $42 billion in 100 days

0
1173

 

Founders of Google search engine: Larry Page, 48 and Sergey Brin, 47, have made about $42 billion in 100 days, which reports say is far more higher than the total foreign cash reserve holdings of Africa’s biggest economy.

Larry Page, currently worth $104 billion, has earned $21.2 billion in 100 days; while Sergey Brin, with a wealth valuation of $100 billion, earned $20.4 billion in the same period.
Collectively, both men have earned $41.6 billion, dwarfing Nigeria’s foreign cash reserve which currently stands at a gross valuation of $35 billion.

The majority of Larry page’s wealth comes from his stake in Alphabet, the parent company of Google. The Standford trained entrepreneur currently holds $12.6 billion in cash.

Sergey Brin’s wealth valuation is also derived from his stake in the world’s most popular search engine and presently, his cash holding is valued at $12.7 billion.

Impressive growth from the world’s most powerful economy boosted buying pressure on Google shares and its founders saw their wealth valuation surge.

Global investors are increasingly holding on the tech juggernaut’s shares as amazing economic data from America’s service industries, coupled with an advance in the tech sector, fueled the hike in Google shares seen in recent months.

Consequently, investors are piling significant amount of funds into Alphabet Inc., with reports saying it won its most recent supreme court case against Oracle, a case that has lingered for about three years.

Recent price action reveals the stock is presently trading at $2,285.88 nearing its 52-week high of $2,289.04 with a yearly return on investment currently pegged at 89%.

Stock pundits are surprised by such record gains in Google shares despite a swift move seen lately by some institutional investors into utility, energy-based stocks and of late U.S Treasury bonds.

Previous articleEPL: Man Utd come from behind to win at Tottenham
Next article‘If not for bad belle’, MKO would have been president – Obasanjo
Francis Ogwo
The young and goal driven writer and cinematographer started his journalism as a print journalist in Kaduna in 2005 writing for Kaduna Chronicles Newspapers, Liberator Newspapers where he became the South Bureau Chief. In 2008, he moved into TV production with an employment into Siverbird Television and Rhythm Fm as a Correspondent. He got certified by Independent Television Producers Association of Nigeria(ITPAN) in 2009. After five years of hardwork and training, he was employed as Associate Producer, Moments With Mo and subsequently Producer, Playground on HipTV. Francis currently majors in documentaries and high profile scripts for news and movies. He is currently a Senior Contents Producer at News Central TV

LEAVE A REPLY

Please enter your comment!
Please enter your name here