Larry Page's financial wealth is what we're after here.
Google, one of the world's most influential technology companies, was born in a garage in Menlo Park, California, in 1997. Co-founded by Larry Page and Sergey Brin, two Stanford University graduates, the company initially named its search engine "Backrub".
In 1998, Google officially launched with a mission to "organize the world's information and make it universally accessible and useful". The search engine quickly gained popularity due to its innovative algorithm that ranks web pages based on the number and quality of links pointing to them.
As Google grew, so did its reach. It branched out to offer services like Gmail, Google Maps, Google Drive, and YouTube. In October 2015, Google rebranded itself as Alphabet, marking its shift from a search engine to one of the world's most influential technology businesses.
The transition to Alphabet was strategic. Google's founders hoped to give themselves more time to focus on new ventures. Alphabet was created to restructure all of Google's individual divisions under one umbrella. Some of the ventures led by Page, such as Waymo, a pioneer in self-driving car technology, and Wing, which develops and operates delivery drones, have significantly influenced the global markets for autonomous vehicles and artificial intelligence.
Alphabet now sits among the 'magnificent seven stocks', a group of the biggest tech companies, which includes Jeff Bezos's Amazon and Mark Zuckerberg's Meta. Larry Page, with a net worth of $143 billion, is one of the wealthiest people in the world. The use of artificial intelligence has added more than $18 billion to his and Brin's combined wealth.
However, Google's success has not been without challenges. In recent years, the company has faced increasing regulatory scrutiny, particularly in Europe. By creating Alphabet, Google hoped to separate its core search and advertising business from its other ventures to avoid regulatory scrutiny. Despite these challenges, Google's search engine, still known as 'Google' under the Alphabet umbrella, remains a dominant force in the digital world.
With its roots in a humble garage and its future shaping the world, Google-turned-Alphabet continues to push the boundaries of what technology can achieve. Its founders' long-term goal is to allow them to look to the future and follow their own interests, such as prolonging human life through AI and self-driving vehicles. As the company continues to evolve, one thing remains certain: Google-Alphabet's impact on the world is far from over.
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