It is the end of an era. Google founders, Larry Page and Sergey Brin, have stepped down from their current roles after 21 years of being associated with the company and spearheading major transitions. Page's role as the Alphabet's CEO will be taken up by Google's chief Sundar Pichai. Even though Brin, who served as Alphabet's president, and Page will step down from their public roles, they will remain on board.
"While it has been a tremendous privilege to be deeply involved in the day-to-day management of the company for so long, we believe it's time to assume the role of proud parents—offering advice and love, but not daily nagging!" Page and Brin wrote in a blog post on Tuesday.
Google's founders have handed the realms of Google's parent company, Alphabet, to Pichai, whose responsibilities now expands beyond Google. Brin and Page complimented Pichai's humility and passion for technology. More importantly, the founders, both aged 46 years, revealed the real reason behind their departure.
"We've never been ones to hold on to management roles when we think there's a better way to run the company. And Alphabet and Google no longer need two CEOs and a President," the founders wrote.
As the duo departs from their current roles, the biggest question everyone has been asking is how much Page and Brin worth. According to Forbes, Page is ranked 10th richest individual in the world, followed by Brin who stands at 14th rank.
Larry Page's net worth
Page is worth $59.3 billion
Sergey Brin net worth
Brin is worth $56.6 billion
Page and Brin still control the majority of the company's shares. As of April, Page held 26.1 percent of Alphabet shares while Brin closely followed the lead with 25.25 percent of the company's voting power.
Pichai, who is the CEO of Alphabet and Google, holds less than 1 percent shares in the company. Pichai's net worth falls far behind Page and Brin, but still ranks among the world's richest corporate execs. According to Celebritynetworth, Pichai's net worth is $600 million. He ranked 10 in the Forbes list of world's most reputable CEOs in 2018.