Google founders among Forbes' elite
Google Inc's mammoth initial public offering has netted its two co-founders an interesting side benefit.business Updated: Sep 23, 2005 21:08 IST
Google Inc's mammoth initial public offering has netted its two co-founders an interesting side benefit: an entry into the upper echelons of
magazine's list of the 400 richest Americans.
Bill Gates, Microsoft Corp's Co-founder and Chairman, was the wealthiest person in the United States for the 11th straight year with a net worth of $51 billion, followed again by Berkshire Hathaway Inc Chairman and Chief Executive Warren Buffett's $40 billion, according to Forbes, which released its annual rankings on Thursday.
Perhaps more noteworthy is the ascent of Google founders Sergey Brin and Larry Page, who were ranked 16th by Forbes with $11 billion each, up from No 43 last year when they each had a net worth of$4 billion.
Google went public last year, but the Internet search engine returned to the capital markets this month with a follow-up offering of shares that raised $4.18 billion. The company has earned$1 billion since going public.
According to Forbes, whose reporters assembled the list through a series of interviews and company filings with the Securities and Exchange Commission, Brin's and Page's post-IPO wealth is accruing at speeds faster than Gates' wealth after Microsoft went public.
Collectively, the top 10 richest Americans saw their collective net worth climb $125 billion, the magazine said.