Google co-founder Sergey Brin has donated alphabet shares worth nearly $ 700 million-but his group’s beneficiaries are a mystery.
Mogul of Technology – whose net value is estimated at $ 144 billion, according to the Bloomberg billionaire index – transferred approximately 4.1 million shares of Google’s parent company, evenly divided between newly converted A Class C and Class C shares, according to a Secrail SEC on Wednesday.
Regulatory registration did not disclose the recipient or shareholders, leaving open the possibility that the gift could be directed for charities, funds advised by donors or personal beliefs.
A spokesman for the Brin Family Office refused to comment on the transaction.
Donation time comes after alphabet shares are driven by the positive feeling of investors after notifications at the Google developers’ annual conference.
Class A and C shares increased more than 13% over the past month.
On Tuesday, Google revealed a new “Summary AI” feature in its signature search product – called “AI Mode” – which is expected to rely on all US users.
The feature enables direct interaction with Google’s artificial intelligence tools, bringing his search skills more in accordance with platforms like Openai chatgt.
This latest donation suits a broader model for Brin, which has regularly moved considerable parts of its alphabet possessions in philanthropic or strategic initiatives, often coinciding with the main Google products announcements.
In 2023, Brin donated approximately $ 600 million in alphabet shares about Google’s search. He also reported additional stock gifts exceeding $ 100m in May and November of that year.
Brin has a long record of supporting causes related to medical research, especially Parkinson’s disease, which goes to his family.
Through his non -profit foundation, he has also funded projects in climate technology and public health.
Past donations have supported the beginnings that explore psychological treatments and ambitious infrastructure ideas – such as a $ 155 billion initiative to build artificial “islands” for the coast of Copenhagen.
Despite withdrawing from the day’s 2019 daily management along with other co -founder Larry Page, Brin remains deeply invested in the long -term direction of the company.
From Wednesday, Rrin’s personal wealth made him the 10th richest person in the world.
The site maintains a small advantage of the ninth, with a net value of $ 153.2 billion.
Most of the rib wealth is held in a mix of class B Class B and Class C – structures that maintain its voting power while providing flexibility in financial planning.
Since Google’s initial public offer in 2004, Brin has sold more than $ 11 billion in company shares, Bloomberg data shows.
#Cofounder #Billionaire #Google #Sergey #Brin #donates #stock #worth #700mbut #recipients #mystery
Image Source : nypost.com