Thanks to the Google share price reaching $1,011 (€740) for the first time
Google has reached over $1,000 per share yesterday, $1,011 (€740) to be exact, after the company's positive third quarter results. Granted, the numbers don't really justify the almost 14 percent jump in share price, but investors tend to go with the flock, as all it took was a couple of them to push up demand for the landslide to come.In any case, Google shares have now reached a record high meaning that, on paper at least, Google's big investors are significantly richer.
CEO and Cofounder Larry Page is $3 billion (€2.19 billion) richer as of yesterday and Cofounder Sergey Brin is $2.93 billion (€2.14 billion) richer, as Forbes' real-time billionaire index shows. Not bad for a day's "work."
Granted, all of this is paper money, it doesn't mean anything unless they decide to sell their shares. Even that is a complicated and long process.
And it's not just Google billionaires that are richer as of yesterday. Amazon and Facebook shares were on the rise too, so Amazon CEO and Founder Jeff Bezos's worth is now $1.57 billion (€1.14 billion). Even Facebook CEO and Cofounder Mark Zuckerberg is $940 million (€687 million) richer as of yesterday.