$1,000. Google’s stock price hit its all-time high today, making the rich founders even wealthier. Co-founders Larry Page and Sergey Brin each saw their fortunes rise more than $250 million today as shares topped the four-figure threshold.
Google is racing higher because it made more money than Wall Street analysts predicted for the third quarter. Still, while the stock price is rising, the price of ads is going down. The company is making less money for each click on a Google ad.
That is one of CEO Page’s top priorities, but he can take comfort in his billions. The $1,000 stock price is just a number —a feel-good metric— but here’s a look at how it affects the folks at Google. Shares were up almost 15 percent to $1,012.65 at 2:15 p.m. today.
-Page and Brin each own about 24 million shares in their company.
-Their stock fortunes are now around $24 billion.
-The stock was up about $290 a share this year, a 41 percent rise.
-The founders —the 20th and 21st richest people in the world— made $7 billion each on this year's run.
-Page has pocketed about $415 million in stock sales since July.
-Brin took in $75 million, in just one transaction this month, selling shares.