Google founder Larry Page’s net worth crossed $300 billion as Warren Buffet admits mistake of not doing …

Larry Page net worth crossed $300 billion after shares of Alphabet climbed on July 15, adding billions to the fortunes of the company’s co-founder. Alphabet shares rose 3.9% on Wednesday after gaining nearly 2% a day earlier. According to Forbes, the rise in Alphabet’s stock added about $8 billion to Page’s wealth, taking his net worth to $301.7 billion. The rally came a day after billionaire investor Warren Buffett said he “made a mistake” by not investing in Google‘s parent company Alphabet earlier. In a CNBC interview, Warren Buffett also revealed that he personally initiated Berkshire Hathaway’s first investment in Alphabet last year.

Warren Buffett says he should have invested in Alphabet sooner

As mentioned above, the gain in Larry Page’s wealth followed Warren Buffett’s comments during a CNBC interview, where he said he personally initiated Berkshire Hathaway’s first investment in Alphabet. “I made a mistake” by not investing in the company earlier, Buffett said. When asked “Why do you like Alphabet above all others? And what made you initiate this position? What was the eureka moment?,” Buffet replied saying: “ I would say that I don’t like it as well as at least four or five other businesses that we own” before adding “I think they’re more likely to be a winner based on the record than probably 90 percent or 95 percent of what gets merchandised through Wall Street, because Wall Street, it’s just whether they can sell something”. Despite praising Alphabet, Buffett said Apple remains one of Berkshire Hathaway’s favourite investments and that its “future is as bright as the past.”

Berkshire Hathaway expands Alphabet investment

Berkshire Hathaway first disclosed its investment in Alphabet in November last year, when it purchased more than 17.8 million shares worth about $4.3 billion. The investment firm later increased its holding by buying an additional 40 million shares, taking its total ownership to around 58 million shares. That investment is now worth about $21 billion.