Sergey Brin reclaims 3rd richest spot after Alphabet stock rebound
Google co-founder Sergey Brin just reclaimed his spot as the world's third-richest person, thanks to a small rebound in Alphabet's stock.
After a rough day that saw Alphabet shares drop more than 7% (wiping $255 billion off its value and knocking Brin down to fifth place), Friday's 0.5% recovery pushed his net worth back up to $243.1 billion.
Investors spooked by Alphabet AI $195B-$205B
Investors got spooked by Alphabet's updated AI spending plans, which are now set at $195 billion to $205 billion.
Even though the company has seen 12 straight quarters of double-digit growth, that big number led to a sharp dip in share price.
Since Brin owns about 362.7 million shares, his fortune (and billionaire ranking) moves fast with every market swing, a reminder of how closely these lists follow Wall Street ups and downs.