Key Takeaways
- New No. 2: Google co-founder Larry Page has become the world’s second-richest person, with his net worth climbing to an estimated $255 billion.
- AI-Fueled Rally: The wealth shake-up was driven by a powerful rally in shares of Google’s parent company, Alphabet, which surged on momentum from its artificial intelligence advancements.
- Ellison Slips: Oracle’s Larry Ellison moved to the third spot with a net worth of $248.8 billion, as his company’s stock has recently declined.
- Brin Rises: Fellow Google co-founder Sergey Brin also climbed the ranks, becoming the fourth-richest person and surpassing Amazon’s Jeff Bezos.
A major shift has occurred in the ranks of the world’s wealthiest individuals, with Google co-founder Larry Page taking the No. 2 spot from Oracle chairman Larry Ellison. The change comes as shares of Google’s parent company, Alphabet, continue a remarkable rally, cementing investor confidence in its AI-driven future.
On Monday, Page’s estimated net worth surged by $8.7 billion to reach a staggering $255 billion. This move pushed Ellison, whose fortune now stands at an estimated $248.8 billion, into the third position on the global wealth index.
Alphabet’s AI-Powered Surge
The driving force behind this reshuffle is the stellar performance of Alphabet’s stock. Shares climbed another 5.8% on Monday to trade around $317, continuing a powerful rally that has seen the stock gain 67% since its low on August 1.
Investor optimism is largely tied to Alphabet’s advancements in artificial intelligence. The recent release of its latest AI model, Gemini 3, fueled significant gains. This momentum was further bolstered when Warren Buffett’s Berkshire Hathaway disclosed a nearly $5 billion stake in the company, a notable vote of confidence from the legendary investor. Alphabet also recently topped $100 billion in quarterly revenue for the first time, partly thanks to a 34% boost in its cloud division.
Oracle’s Fortunes Shift
In contrast, Oracle has faced headwinds. The company’s shares fell 1.5% on Monday, extending a recent downturn. The stock has plummeted by 43% since a massive surge on September 10, with growing market fears of a potential “AI bubble” impacting several megacap tech firms. According to a recent Bank of America survey, 45% of global fund managers now view an AI bubble as a top market risk, leading some investors to trade against high-flying stocks like Oracle.
A Broader Reshuffle at the Top
The Alphabet rally has also lifted co-founder Sergey Brin, whose net worth rose to an estimated $236.4 billion. This increase allowed him to overtake Amazon’s Jeff Bezos ($235.1 billion) and claim the spot as the world’s fourth-richest person.
The diverging fortunes of Page and Ellison highlight a pivotal moment in the tech industry, as investors reward companies demonstrating clear progress and profitability in the highly competitive artificial intelligence landscape.