Google co-founder Sergey Brin donates $700M worth of stock!
The recipients of Google co-founder Sergey Brin’s generosity are unknown, although he has donated around $700 million worth of Alphabet stock.
According to an SEC filing on Wednesday, the tech tycoon, whose estimated net worth is $144 billion based on Bloomberg’s Billionaires Index, transferred roughly 4.1 million shares of Google’s parent company, evenly divided between newly converted Class A and Class C stock.
Sergey Brin’s contribution could have gone to personal trusts-
Or any donor-advised funds, or charitable foundations because the regulatory filing did not identify the receiver or recipients of the shares.
According to a Wednesday SEC filing, Google co-founder Sergey Brin has donated around $700 million worth of Alphabet stock. Podcaster Alex Kantrowitz (left) and Google DeepMind CEO Demis Hassabis (center) are shown with Brin at the far right. Reuters
Brin’s family office spokeswoman refrained from commenting on the deal.
The donation was made at a time when Alphabet’s stock has been rising due to optimistic investor sentiment after the company made statements during Google’s annual developer conference.
Over the previous month, the Class A and C shares have increased by over 13%.
Known as “AI mode,” Google’s new “AI Overview” feature in its flagship search engine was revealed on Tuesday and is anticipated to be made available to all US users.
By allowing direct communication with Google’s AI tools, the functionality aligns Google’s search capabilities with those of ChatGPT, a platform from OpenAI.
This most recent contribution is consistent with Brin’s larger trend of transferring sizeable amounts of his Alphabet assets toward strategic or charitable endeavors, frequently in tandem with significant Google product releases.
In 1998, Brin and Larry Page (left) co-founded Google. Google became the most popular search engine in the world. Getty Images via Corbis
Around the time of Google’s AI search launch in 2023, Brin gave about $600 million in Alphabet shares. In May and November of that year, he also declared more than $100 million in share gifts.
Since Parkinson’s disease runs in his family, Brin has a long history of advocating for causes pertaining to medical research.
He has also provided funding for public health and climate technology initiatives through his nonprofit foundation.
A $155 billion project to build artificial “energy islands” off the coast of Copenhagen is one example of the big infrastructural initiatives and firms investigating psychedelic cures that have benefited from previous donations.
In 2019, Page and Brin resigned their daily responsibilities at Google, but he continues to have a significant impact on the company’s course. Sadowski, Christopher
Even though he and fellow co-founder Larry Page left Google’s day-to-day operations in 2019, Brin is still very much involved in the company’s long-term strategy.
Brin’s personal wealth ranked him as the tenth richest person in the world as of Wednesday’s end.
With an estimated net worth of $153.2 billion, Page is slightly richer than the ninth richest person.
A large portion of Brin’s fortune is invested in Alphabet’s Class B and Class C shares, which provide flexibility in financial planning while maintaining his voting power.
According to Bloomberg data, Brin has sold almost $11 billion worth of Google stock since the company’s 2004 IPO.
