Google founder Larry Page achieved an elite financial milestone after his net worth crossed the $300 billion mark due to a sharp rally in Alphabet (parent company of Google) shares. The wealth of Google co-founder jumped by billions in just one day as investors pushed Alphabet stock higher following encouraging market sentiment. There were also surprising comments from legendary investor Warren Buffett.
According to Forbes, Larry Page's net worth climbed to $301.7 billion after Alphabet shares surged on July 15, adding around $8 billion to his fortune. The rally also came shortly after Warren Buffett admitted that he regretted not investing in Google's parent company much earlier.
Larry Page's net worth crosses $300 billion
Larry Page's net worth received a massive boost after Alphabet shares rose 3.9% on Wednesday. This was followed by an almost 2% gain a day earlier, making the tech billionaire one of the world's richest people.
The rise reflects growing investor confidence in Alphabet as the company continues to strengthen its position in artificial intelligence, cloud computing and digital advertising.
Warren Buffett admits, "I made a mistake"
The jump in Larry Page's net worth came just a day after billionaire investor Warren Buffett made a surprising admission during a CNBC interview. Buffett revealed that he personally initiated Berkshire Hathaway's first investment in Alphabet last year but acknowledged that he should have invested in the company much earlier.
"I made a mistake" by not investing in the company earlier. When asked why Alphabet stood out among technology companies and what prompted Berkshire Hathaway to invest, Buffett gave a measured response.
“I would say that I don’t like it as well as at least four or five other businesses that we own”
He continued by explaining why Alphabet still remains one of the strongest companies in the market.
“I think they’re more likely to be a winner based on the record than probably 90 percent or 95 percent of what gets merchandised through Wall Street, because Wall Street, it’s just whether they can sell something”.
Although Buffett praised Alphabet's long-term strength, he reiterated that Apple remains one of Berkshire Hathaway's favourite investments.
According to Buffett, Apple's "future is as bright as the past."
Berkshire Hathaway's Alphabet investment has grown sharply
Berkshire Hathaway first disclosed its investment in Alphabet in November last year, revealing that it had purchased more than 17.8 million shares valued at approximately $4.3 billion.
The investment firm later expanded its position by acquiring another 40 million shares, taking its total holding to roughly 58 million shares.
Thanks to Alphabet's continued stock rally, Berkshire Hathaway's investment has grown significantly and is now worth about $21 billion, making it one of the company's most valuable newer positions.
Why Alphabet shares are attracting investors
Alphabet has remained one of Wall Street's most closely watched technology companies as investors continue betting on its long-term artificial intelligence strategy.
The company has accelerated investments in AI-powered products, cloud services and its core search business, helping maintain strong investor confidence despite increasing competition in the technology sector.
The latest rally not only lifted Larry Page's net worth past $300 billion but also highlighted renewed optimism surrounding Alphabet's future growth.
(With TOI inputs)
