How Larry Page Achieved a Net Worth of $53 Billion
Larry Page is a name that is well-known throughout the world. He’s the co-founder of Google which made a name change to Alphabet Inc. The multi-billionaire has amassed a net worth of approximately $52.6 billion, but how did he accomplish this amazing feat? His story is fascinating and not just because he made a ton of money. We think that everyone needs to find out how Larry Page took the talents he had and pushed his way through the tough times to help others and make a fortune in the process.
A chance meeting
Before the world came to rely on Google for e-commerce and searching the internet, Larry Page was working on his dissertation at Stanford University. It was during the 1990s and the web was still in its infancy, having been around for just 5 years. It didn’t even resemble the superhighway of information it’s become today. Page met Sergey Brin and partnered with him to complete his dissertation. The topic was about how websites link together. In a brilliant body of work, Page and Brin developed a website ranker called PageRank. This evaluated websites in a ranking system that assigned points based on the number of page links within them. The term “googol” was developed by the pair, to describe the tons of data found on the web. This was how Google started. In 1996, thee first version began on the Stanford University website and it was from here that it continued to grow and evolve.
The official launch of Google
Page and his partner Brin, officially launched the Google Inc. company in 1998, It began in Menlo Park, California from the garage owned by a friend. These were quite humble beginnings. Within one year of the launch, the new startup was successful enough for the pair to relocate to Google’s new home in Mountain View, California where they procured a series of connected buildings that they named the “Googleplex.” It was a good sign that within 12 months, they had taken their idea from a borrowed garage space to a multi-unit complex. By 2003, Google had become one of the fastest growing companies with more than 18 million web searches occurring every day. In 1998, PC Magazine named it in their Top 100 Web Sites and Search Engines for the year, and USA Today ran a feature article about Google.
Page’s patience and business savvy
As Google took shape and experienced massive growth, the co-founder, Larry Page also grew as an entrepreneur. When Google first launched, Page assumed the position of CEO, then advanced in 2001 to the president in charge of products. He and Brin put Eric Schmidt in charge of CEO duties because he had the savvy to make the business more profitable. He led Google over the next decade to a major web provider offering email, map services, academic searches, advertising, translation and a host of other services. They launched their Android mobile phone operating system, purchased YouTube and firmly established their position as a leader in the industry under Schmidt’s leadership. Page’s company had become a giant and he had no problem hiring the best and allowing them to do their jobs. His instincts paid off big time. He went back to his former CEO position in 2011, feeling fit for the responsibility.
Google’s evolution to a giant
Google employed over 20,000 people by 2010, was made available in 130 languages and established office locations throughout the globe. The mighty corporation continued to expand into the rapidly advancing technology sphere with Google self-driving cars, home automation with Nest Labs and Google Glass, Chromebook, Google X working on flying vehicles and the list goes on.
Page’s other investments
Page used personal funds to invest in an autonomous air taxi called Kitty Hawk. Testing is currently under negotiations with the New Zealand government to try out the two seat electric aircraft. The goal is to develop this technology that will automate air travel at 10 feet in the air at a speed of 20 miles per hour. It’s a novel innovation with tremendous implications for future travel.
Page earned a fortune from his dissertation project that turned out to be one of the largest and fastest growing companies in the world today. He attributes a large part of his success to the ten rules that he created. Page is a wonderful human being who became a billionaire at the young age of 35 by living by hard and fast principles. His first rule is “Don’t be evil.” he maintained a focus on searching vs selling. Hiss other nine rules revolved around improving services, setting high goals and letting go of control when someone else could do it better. It was his philosophy and adherence to the principles set forth in his self-imposed rules that helped Larry Page build his fortune, which comes largely from his hand in the development and expansion of Google. He is currently the 12th richest person in the world.
