If you’re one of the co-founders of one of the largest, richest companies in the world, what do you think is the best way to end a long week of hard work? A cold beer? putting your feet up? playing with your kids? Well, in the case of Google’s co-founders Larry Page and Sergey Brin it’s adding a few billion dollars to their wallets.
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That’s right, after Thursday’s earnings call, Google beat the expectations (something not very common in a tech company these days) and their shares went into overdrive passing the $1,000 barrier for the first time ever.
This caused Brin and Page to add $5.9 billion between the two of them in just 24 hours. I don’t know about you but that sounds like a lot to me. This new income has made Page and Brin the 13th and 14th richest persons in the U.S. on the Forbes 400 list.
According to FORBES estimates, Larry Page’s fortune to be about $23.8 billion net worth with the latest $3 billion coming from the last 24 hours. Page has been Google’s CEO for the last two years and the numbers speak for themselves. He has done wonders for the company with better services, a new, beautiful unified sense of design that spreads across all of Google’s products and a new lab specially dedicated to crazy long-term projects.
This lab, known as Google X, is leaded by Sergey Brin, Google’s other founder. He came 14th on the Fortune 400 list with an estimate of $27.7 billion. The last 24 hours made him $2.9 billion since he has a few shares less than Larry Page.
As a reminder, Google announced $10.74 per share on consolidated revenue of $14.9 billion which when added to the $14.11 billion reported last quarter gives an average slightly higher of what the market was expecting. This is what caused the stock price to explode and hit a roof of $1011.41 per share on Friday.
As I said recently, Page is heading Google straight into the future with an amazing present and an even bigger prospect. I know nothing about stocks but since the stock price is so high I don’t think it’s a good idea to buy right now. Anyway, Google and it’s founders are having a great present, let’s see how long can they keep it up.