Google founder’s net worth crossed $300bn as Warren Buffet admits mistake
Alphabet co-founder Larry Page's net worth surpassed $300 billion following a stock rally, coinciding with Warren Buffett's admission that he regrets not investing in the company sooner. Berkshire Hathaway has since built a significant stake in the tech giant.
Why it matters
This reflects the massive market influence of big tech and the shifting investment strategies of legendary value investors like Buffett.
Larry Page net worth crossed $300 billion after shares of Alphabet climbed on July 15, adding billions to the fortunes of the company's co-founder. Alphabet shares rose 3.9% on Wednesday after gaining nearly 2% a day earlier. According to Forbes, the rise in Alphabet's stock added about $8 billion to Page's wealth, taking his net worth to $301.7 billion. The rally came a day after billionaire investor Warren Buffett said he "made a mistake" by not investing in Google's parent company Alphabet earlier. In a CNBC interview, Warren Buffett also revealed that he personally initiated Berkshire Hathaway's first investment in Alphabet last year.Warren Buffett says he should have invested in Alphabet soonerAs mentioned above, the gain in Larry Page’s wealth followed Warren Buffett's comments during a CNBC interview, where he said he personally initiated Berkshire Hathaway's first investment in Alphabet.
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