Topline<\/p>\n
Google co-founder Sergey Brin rose to become the fourth richest person in the world Friday morning, after falling into fifth place Thursday thanks to a massive slump in Alphabet stock driven by concerns over the company\u2019s projected spending on artificial intelligence. <\/p>\n
Sergey Brin on March 10, 2024 in Beverly Hills, California.<\/p>\n
Getty ImagesKey Facts<\/p>\n
Brin\u2019s net worth plummeted more than $17 million on Thursday after Alphabet\u2019s share price dropped more than 7%\u2014erasing roughly $255 billion in market value in the largest one-day valuation loss in the company\u2019s history.<\/p>\n
The drop briefly put Brin, who was the third richest person in the world before the change in Alphabet\u2019s share price, in fifth place on Forbes\u2019 real-time billionaires list behind Michael Dell and Jeff Bezos. <\/p>\n
As of Friday morning, however, Brin\u2019s net worth sat at $241.8 billion and Dell\u2019s had fallen to $239.8 billion after a small drop in Dell stock, of which its namesake founder owns roughly 40%. <\/p>\n
Dell’s net worth has surged tens of billions of dollars this year thanks to Dell Technologies\u2019 rapid growth in artificial intelligence infrastructure and soaring demand for AI servers. <\/p>\n
BIG NUMBER<\/p>\n
362.7 million. That\u2019s how many shares, or about 3% of the company, Brin owns in Alphabet. <\/p>\n
WHAT TO WATCH FOR<\/p>\n
The opening bell. Alphabet appears poised for a modest rebound Friday morning, but investors are likely still cautious after Thursday\u2019s steep sell off, which came after Alphabet\u2019s post-market earnings release Wednesday. Alphabet reported its 12th straight quarter of double-digit revenue growth, but investors were spooked by a spike in its artificial intelligence capital spending forecast to be between $195 billion and $205 billion.<\/p>\n
Key background<\/p>\n
Tiny moves in stock like Alphabet or Dell can swap two people on the Forbes real-time billionaire ranking whose fortunes are only a few billion dollars apart. The biggest driver is the real-time market value of shares a billionaire owns in public companies. As stocks rise and fall throughout the day, Forbes automatically recalculates their wealth. Forbes also estimates the value of private companies using comparable public companies and other assets, like real estate, cash, investments, yachts and art.<\/p>\n
further readingForbesSergey Brin Falls To 5th Richest\u2014While Jeff Bezos, Michael Dell RiseBy Mary Whitfill Roeloffs<\/a>Forbes950 Million People Now Use Gemini Each Month As Alphabet Posts Earnings BeatBy Ty Roush<\/a>ForbesMichael Dell\u2019s Net Worth Surges Up $35 Billion From Dell\u2019s Best Day Ever\u2014Passing Zuckerberg As 6th RichestBy Ty Roush<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Topline Google co-founder Sergey Brin rose to become the fourth richest person in the world Friday morning, after…\n","protected":false},"author":2,"featured_media":557513,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[5472,114,12600,8453,85,46,32518,252714],"class_list":["post-557512","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-alphabet","tag-business","tag-dell","tag-forbes","tag-il","tag-israel","tag-sergey-brin","tag-sergey-brin-rises"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/557512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=557512"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/557512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/557513"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=557512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=557512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=557512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}