Google‘s Larry Page Climbs to Third-Richest in teh World Following Gemini 3 Launch
MOUNTAIN VIEW, CA - December 6, 2023 – Google cofounder Larry page has surpassed Amazon’s Jeff Bezos to become the world’s third-wealthiest individual, propelled by a surge in Alphabet’s stock price following the unveiling of its new Gemini 3 artificial intelligence model. The jump in valuation adds billions to Page’s fortune and signals strong investor confidence in Google’s AI ambitions.
The increase in Page’s net worth-estimated at $7.6 billion-comes as Alphabet shares jumped nearly 6% in early Wednesday trading, before settling around a 3.3% increase as of 2 p.m. EST. This boost is directly linked to the release of Gemini 3, Google’s latest and most capable AI model, and reflects a broader market rally for the tech giant, with its stock climbing 102% from its april low.
Page’s 3.2% stake in alphabet is now valued at a significantly higher level, placing him third on the Forbes Real-Time Billionaires List. Fellow Google cofounder sergey Brin, holding a 2.9% stake, also saw a substantial gain of $7 billion, securing his position as the fifth-richest person globally.
Currently, Elon Musk leads the list with a fortune of $466.2 billion, followed by Oracle chairman Larry Ellison at $276.5 billion. Jeff Bezos now ranks fourth with a net worth of $233.6 billion.
The launch of gemini 3 marks a critical moment in the rapidly evolving AI landscape, positioning Google as a major competitor to other industry leaders.The model’s capabilities are expected to enhance a wide range of Google products and services, driving future growth and innovation.