Quick overview

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Sergey Brin sold Alphabet stock worth over $1.1 billion this week, with most of the proceeds going to a charity founded by the Google co-founder.

 

A regulatory filing that revealed the donation on Friday did not specify the recipient of the more than 3.5 million shares. A representative for Brin’s family office states that Catalyst4, which Brin started in 2021 to fund research into central nervous system disorders and climate change solutions, will receive about $1 billion in stock.

Brin is also donating roughly $90 million to his family foundation and $45 million to the Michael J. Fox Foundation for Parkinson’s disease research. Brin previously donated $700 million worth of Alphabet shares to the same three charities in May.

According to the Bloomberg Billionaires Index, Brin, 52, has a fortune of $255.5 billion, making him the fourth richest person in the world.

Thanks to an increase in Alphabet shares, which hit a high of $323 on Tuesday due to the company’s advances in artificial intelligence, his net worth has soared this year. Brin’s wealth has grown by $97.3 billion this year, and he owns about 6% of the company overall.