Larry Page is a co-founder of Alphabet, the firm in charge of the big capital (G) Google, the world’s biggest search engine.
This tech giant, headquartered in Mountain View, California, was established back in 1998 and, as of 2022, boasted an impressive revenue of $283 billion.
Alphabet’s various divisions include well-known names like Gmail, Android, and the popular video-sharing platform, YouTube.
According to Net Market Share, a large percentage of Larry Page’s fortune can be ascribed to his ownership position in Alphabet, the parent company of Google, which reigns supreme and dominance in the world of search engines.
His holdings encompass both Class B and C shares, totaling approximately 6% of the company, as confirmed by the 2023 proxy statement and a filing from April 2022.
Additionally, Page’s Class B shares are not publicly traded but are valued based on the current market pricing of the company’s publicly listed Class A shares, according to the proxy.
According to the April 2022 filing, he also owns approximately 20 million shares of Alphabet Class C stock, which is publicly traded.
Since Google’s first public offering in 2004, Larry Page has unloaded shares from both Alphabet and Google, totaling more than $10 billion in value, according to Bloomberg statistics.
The assessment of his cash investments considers these sales, insider transactions, asset sales, and tax implications.
According to co-founder Sergey Brin’s public pronouncements about their investments, which mostly favor venture capital and clean technology efforts, this net worth computation also reflects his investment preferences.
Despite attempts to reach out, there has been no response to inquiries regarding Larry Page’s net worth when contacting Google’s press office.
Larry Page, who is originally from East Lansing, Michigan, studied computer science at the University of Michigan before enrolling in Stanford University’s Ph.D. program.
It was during this academic pursuit that he crossed paths with fellow graduate student Sergey Brin in 1995.
Their collaborative research project, called BackRub, sought to improve Internet searches by exploring the intricate network of connections between websites.
This endeavor gave birth to Google, officially incorporated in 1998 after securing an initial investment of $100,000 from Andy Bechtolsheim.
Initially serving as co-presidents of Google, Page and Brin eventually appointed Eric Schmidt, a former Novell executive, as the CEO in 2001.
Google held its highly successful initial public offering (IPO) in 2004, offering shares at $85 each.
During this IPO, the company notably minimized involvement from investment banks, reflecting its commitment to the mantra, “Don’t be evil,” which had been declared as its mission.
Since that time, Google has grown to become the world’s most used and sought-after Internet corporation, with an estimated $90 billion in sales according to trusted reports in 2016.
|Larry Page was born in Lansing, Michigan
|Larry Enrolled at Stanford for graduate studies; and met Sergey Brin.
|Larry started a research project on Internet searches with Sergey Brin.
|Larry and SergeyFormally incorporate Google and secure $100,000 in angel investor finance.
|Larry Steps aside as Google co-president after hiring Eric Schmid
|Google’s first initial public offer at $85 per share
|Larry co-founded the philanthropic organization Google.org.
According to Forbes’ most recent World’s Billionaires List as well as other publications from Bloomberg, Larry Page is an American billionaire entrepreneur with a net worth of $111 billion.
This great thinker and talented young American scientist is a major player in Google, which is now owned by Alphabet.
Larry Page has served as Google’s CEO twice. He served as CEO from the company’s creation in September 1998 to August 2001, when he passed the torch to Eric Schmidt.
When Google’s parent firm Alphabet Inc. was created, Sundar Pichai succeeded him as CEO. Later, he returned as CEO from April 4, 2011, to October 2, 2015.
About 6% of Alphabet is owned by Larry Page, while he and co-founder Sergey Brin continue to hold super-voting shares that give them control over 51% of the company’s voting powers.
Since their initial public offering (IPO) in 2004, Page has sold shares in Alphabet and Google totaling almost $9 billion.
Furthermore, Larry Page’s family charity, the Carl Victor Page Memorial Fund, administers assets worth more than $1 billion that he has contributed.
Larry Page is not just an IT and business icon who has gained fame; he’s also an everyday person like you and me who has family and values beyond the tech and business space.
Let us now have a look at Larry Page’s life outside of work. We’ll concentrate on his financial wealth, marriage, children, and personal struggles.
Larry Page’s net worth is projected to be $111 billion, according to the most current Forbes World’s Billionaires List, with Sergey Brin close behind at $107 billion.
Just after Elon Musk, Jeff Bezos, Bernard Arnault, Bill Gates, and Warren Buffett, Page is the sixth wealthiest person in the world.
Larry’s page’s net value has more than quadrupled since the COVID-19 epidemic, owing to increased internet activity during lockdowns. His overall fortune has risen from $50.8 billion in 2019 to more than $111 billion now.
Larry Page tied the knot with research scientist Lucinda Southworth in late 2007.
They celebrated their nuptials on Richard Branson’s Necker Island in the Caribbean before returning to their impressive nine-thousand-square-foot Spanish Colonial Revival home in Palo Alto, designed by the talented Pedro Joseph de Lemos.
Page’s appreciation for exceptional design is evident in his choice of architect.
Page and Southworth enlarged their property in 2009 by creating an eco-friendly home with permeable pavement, organic construction materials, organic paint, and lush greenery. Page and his family have continued to live there since 2009.
Larry Page and Lucinda Southworth have two children. Their first child was born in 2009 and is now around 13 years old.
The second child arrived in 2011 and is approximately 11 years old. Given their youth and the family’s wealth, there is limited public information available about the children, except for their birth years.
It is known that the older child is a boy, while the gender of the younger child remains undisclosed even after more than a decade since their birth.
Larry Page’s personal life hasn’t been without challenges and obstacles, which also proved that money can’t solve every problem that humans face.
Page had experienced and still has a variety of health issues, such as paralyzed voice chords brought on by the autoimmune illness Hashimoto’s thyroiditis.
This illness immobilized his left vocal chord in 1999 and his right vocal cord in 2013. As a result, Page hasn’t taken part in an earnings call since 2013 and hasn’t attended a press conference since 2015.
He continues to support Boston’s Voice Health Institute, which focuses on researching vocal cords and nerve function.
In January 2021, Page and his family encountered another crisis while residing in Fiji during the COVID-19 pandemic.
Their oldest child required a medical evacuation flight to New Zealand for undisclosed emergency treatment.
Out of respect for their family’s privacy regarding health and personal matters concerning their children, specific details about this incident remain unknown.
Although Larry Page had academic interests in fields such as transportation, automation, and music creation, these were primarily personal projects during his college years.
But in what seems like a career progression, during Page’s master’s degree program at the university,
Page decided to embark on a project that concentrated on creating a gigantic graph out of the connections in the WWW, though he laid more a stronger emphasis on the mathematical features of the Web.
Larry Page’s mentor, Professor Terry Winograd, the man known as the father and pioneer of modern-day AI, had earlier advised and encouraged Page to develop this concept further.
Reports from various sources said that Winograd’s guidance was the major motivation that let Page delve into web pages and backlinks.
Even though some people argued this because his computer science interests extended to automation, telecommunications, holograms, and electric self-driving cars.
In addition, Winograd introduced Page to Sergey Brin, a fellow Sanford University student, which turned out to be a perfect match in the realm of computers.
Under the guise of BackRub, Larry Page and Sergey Brin began their first project, which was to collaborate on a research paper titled “The Anatomy of a Large-Scale Hypertextual Web Search Engine.”
In essence, their study made the claim that links—loosely related references—represented the majority of what made up the world of WWW.
To make the process simple for people who use the internet to navigate the whole web, their goal was to develop a system for recording, classifying, and indexing these references.
They also invented the algorithm that is today known as PageRank. PageRank algorithm was designed to measure and evaluate the number of links on a webpage in order to determine how relevance of a website.
The fundamental notion was that major websites will presumably have more connections and backlinks. They were able to create the most advanced search engine at the time because to this creative technique.
In the process of creating BackRub, Page and Brin transformed both of their rooms into makeshift computer labs.
Their project became so robust that it started to strain Stanford University’s entire computer infrastructure.
To overcome this challenge, they scrounged for every available spare computer component and assembled a search engine with the capacity to handle multiple searches from numerous users simultaneously.
By 1996, BackRub, still reliant on Stanford’s computing resources, was prepared for public use on the Internet. By 1998, BackRub was processing a staggering 10,000 searches daily.
After finishing his studies at the University of Michigan, Larry Page went on to Stanford University to enhance his computer science degree.
He had to decide on a dissertation subject while he was there. He made the decision to investigate the mathematical elements and the web-wide interconnection of websites.
His important realization was that, similarly to how citations are used to gauge the caliber of academic writing, the quality of a website might be determined by the amount of backlinks it got from other websites.
Larry collaborated with Sergey Brin, a different doctorate candidate, on this endeavor, which they dubbed “Backrub.” The consequence of their collaboration was the paper “The Anatomy of a Large-Scale Hypertextual Web Search Engine.”
This study broke the record for the most downloaded scientific document on the internet at the time.
Following that, they used the Backrub web crawler to create an algorithm that gave a quality score to each website on the internet.
They named this algorithm “PageRank,” a clever blend of the word “page” from the internet and Larry’s own last name. With the development of the web crawler and algorithm, the natural progression was to create a search engine for displaying search results.
However, their ambitious project led to them facing issues with university resources, and they were eventually asked to leave the campus due to excessive utilization of university computers.
In response, Larry and Sergey decided to establish Google as a private company in 1998. Interestingly, the initial choice for the domain name was “Googol,” representing the number 1 followed by a hundred zeros.
They launched their venture with a $100,000 investment from one of their Stanford professors, David Cheriton. Remarkably, Cheriton’s initial investment would later grow to a staggering value of over $2.3 billion.
Google became a publicly traded company on August 20, 2004, with Eric Schmidt as its CEO, brought in to professionalize the company. Schmidt remained as CEO until 2011, when Larry Page took over.
Page served as CEO until December 2019, when he and Sergey Brin retired from day-to-day operations.
They still own the majority of the company’s stock and sit on the board. Sundar Pichai took over as CEO after Page. Google now earns more than $130 billion in sales.
Larry Page is now one of the wealthiest internet entrepreneurs in history, as well as one of the world’s richest people.
He has won honors from a number of professional organizations, including an honorary MBA from IE Business School, the Maxim Foundation Prize (the highest engineering distinction) in 2004, and an honorary doctorate from the University of Michigan.
Alongside Sergey Brin, his co-founder and friend, Page is actively involved in numerous philanthropic endeavors.
Larry Page and Lucinda Southworth have been married since 2007, with their wedding taking place on Richard Branson’s private island, Necker Island.
They have two children and live in a 9,000-square-foot mansion in Palo Alto, California, that Page bought in 2005 for $7.2 million. They started purchasing and destroying nearby properties in 2009.
Larry Page paid $45 million for the 193-foot yacht Senses in 2011. Page and his family apparently evacuated to Fiji during the COVID-19 outbreak, where they acquired at least one private island and maybe numerous nearby islands.
When Google rebranded as Alphabet, it signaled a significant transformation. From being just a search engine, it has evolved into one of the most influential technology conglomerates globally. Today, Alphabet is responsible for hosting billions of hours of user-generated content every single day.
Even though Page and Brin have taken a step back from the day-to-day operations of Alphabet, they still have long-term ambitions. These include ventures such as extending human life and pushing forward with AI and self-driving technology.
Between 1996 and 2019, Larry Page achieved significant milestones in his career, including:
Larry Page has received numerous awards and recognitions throughout his career, including:
Larry Page is known for his insightful quotes, some of which include:
“You never lose a dream; it just incubates as a hobby.”– Larry Page
“Ideas are more important than age. Just because someone is junior doesn’tThey don’t deserve respect and cooperation.”
“Always deliver more than expected.”
“The worst thing you can do is stop someone from doing something by saying,
‘No. Period.’ If you say no, you have to help them find a better way to get it done.”
“Good ideas are always crazy until they’re not.”
Make your money do more.
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American businessman, computer scientist, and entrepreneur Larry Page. His birthday is March 26, 1973.
Larry Page played a pivotal role in co-creating Google and co-founding Alphabet, Inc.
Larry Page's business partner is Sergey Brin. They co-founded Alphabet, Inc. and Google together.
Yes, Larry Page, who has always been passionate about electric, solar, and self-driving cars, invested $40 million in Tesla back in 2006.
The current CEO of Google is Sundar Pichai, who has been in this position since 2015.