Larry Page’s net worth is $35.8 billion.
But do you know the size of his stake in the company he founded two decades ago and that became the world’s largest search engine operator? What about his salary?
1. Larry Page’s Net Worth Is $35.8 Billion
Larry Page is the CEO of Alphabet Inc (NASDAQ:GOOG), the parent company of Google Inc, the world’s largest search engine operator, which he co-founded in 1998 with Sergey Brin.
Page has a net worth of $35.8 billion. (Source: “The World’s Billionaires,” Forbes, last accessed March 7, 2016.) Page’s net worth is estimated at $37.8 billion, according to the Bloomberg Billionaire Index. (Source: “Today’s ranking of the world’s richest people,” Bloomberg, last accessed March 7, 2016.)
2. He Invented Google’s Best-Known Search Algorithm
Page, who is 46 years old, is a computer scientist and the inventor of “PageRank,” Google’s best-known search ranking algorithm.
PageRank, which was named after Larry Page, is a way of measuring the importance of web site pages. It is not the only algorithm used by Google to order search engine results, but it is the first algorithm that was used by the company and it’s best-known algorithm. (Source: “What Is Google PageRank? A Guide For Searchers & Webmasters,” Search Engine Land, April 26, 2007.)
The East Lansing, Michigan native studied computer science at the University of Michigan before pursuing a doctorate at Stanford. (Source: “Today’s ranking of the world’s richest people,” Bloomberg, last accessed March 7, 2016.)
3.The Majority of His Fortune Is from Alphabet
The billionaire owns both class B and class C shares, giving him an aggregate 6.2% of the business.
Page’s class B stock doesn’t trade and is valued using current market prices for the company’s class A shares, as the B shares are convertible into the publicly traded shares on a one-for-one basis. (Source: Ibid.)
He also owns more than 21 million shares of Alphabet class C stock, which are also traded. The billionaire has sold more than $7.0 billion in Google and Alphabet stock since the company’s 2004 initial public offering. (Source: Ibid.)
4. His Salary Is Only $1 Per Year
Rewarding top executives such as Page with large amounts of stock compensation is believed to incentivize performance. Since his wealth increases only if the stock’s value increases, his interests appear more aligned with the company’s success. (Source: “Why did Larry Page pay himself a salary of only $1 a year at Google?” Investopedia, March 23, 2015.)
Taking pay in the form of equity in the company (options and stocks), though, provides personal benefits to Page as well in the form of lower tax liability. Income tax rates are around 35%, whereas capital gains taxes are usually around just 15%. (Source: Ibid.)
5. He Was an Early Investor in Tesla Motors
His personal passions include buying up chunks of residential Palo Alto for a network of houses that use new types of fuel cells, geothermal energy, and rainwater capture.
He also rides a “Zero X” electric dirt bike and an electric sports car from Tesla Motors Inc (NASDAQ:TSLA), in which he and Brin are investors.10
Larry Page Net Worth
Data source: Forbes