Brin’s net worth plummeted more than $17 million on Thursday after Alphabet’s share price dropped more than 7%\u2014erasing roughly $255 billion in market value in the largest one-day valuation loss in the company’s history. <\/p>\n
The drop briefly put Brin in fifth place on Forbes’ real-time billionaires list behind Jeff Bezos and Michael Dell, but a modest .5% increase in his net worth Friday was enough to put him back in third. <\/p>\n
Brin’s net worth was an estimated $243.1 billion as of 11 a.m. ET Friday. <\/p>\n
BIG NUMBER <\/p>\n
362.7 million. That’s how many shares, or about 3% of the company, Brin owns in Alphabet. <\/p>\n
WHAT TO WATCH FOR <\/p>\n
Alphabet reported its 12th straight quarter of double-digit revenue growth Wednesday, but investors were spooked by a spike in its artificial intelligence capital spending forecast to be between $195 billion and $205 billion. <\/p>\n
Key background <\/p>\n
Tiny moves in stock like Alphabet or Dell can swap two people on the Forbes real-time billionaire ranking whose fortunes are only a few billion dollars apart. The biggest driver is the real-time market value of shares a billionaire owns in public companies. As stocks rise and fall throughout the day, Forbes automatically recalculates their wealth. Forbes also estimates the value of private companies using comparable public companies and other assets, like real estate, cash, investments, yachts and art. <\/p>\n
further reading <\/p>\n
Sergey Brin Falls To 5th Richest\u2014While Jeff Bezos, Michael Dell Rise<\/a> <\/p>\n 950 Million People Now Use Gemini Each Month As Alphabet Posts Earnings Beat<\/a> <\/p>\n