Larry Page

Larry Page is an internet entrepreneur and American computer scientist who co-created Google together with Sergey Bin.  He is the inventor of the PageRank and is responsible for the early development of Google’s ranking algorithm. Both Larry Page and Sergey Bin own around 16% of Google’s stock separately. He is currently the CEO of Google after succeeding Eric Schmidt. In October 2014 he has an estimated wealth of US $28.7 billion, ranking him as the thirteenth richest American according to Forbes 400 list. 

Quick Facts

Net Worth: US $20.3 Billion

Source: Google and Tesla Motors

Born: March 26, 1973

Nationality: American

Early Life

Larry Page was heavily influenced by his parents – Carl and Gloria Page – to tinker with the computer. His passion to work with computers started at an early age of 6 when he would play with computer parts his parents brought home from work.  Both parents worked as computer science professors in Michigan State University where he went to college to obtain his bachelor’s degree in computer engineering. He then proceeded to take his master’s degree at Stanford University.

Development of Google’s PageRank

After enrolling in a PhD program at Stanford University, Larry Page started to explore the mathematical properties of the internet and wanted to make it into his PhD dissertation. Terry Winograd – his supervisor – encouraged him to continue and he focused on finding which web links would give valuable information about a particular web page. He dubbed his research project as “BackRub” and was soon joined by a fellow PhD student Sergey Brin. It took several years for both Page and Brin to develop the system and in 1996, the initial version of google was made available to the public and became the first-ever search engine created online.

Google

It was in 1998 when Page and Brin founded Google. Larry Page ran the company as co-president with Brin but it was in 2001 when they hired Eric Schmidt as the CEO and chairman so they can focus on other things. However, in January 2011, Google announced that Larry Page will replace Schmidt as CEO. Moreover, Page also sits as the member of the Board of Directors of Google.

Other Investments and Philanthropic Activities

Aside from Google, Larry Page is also an investor of the Tesla Motors which manufactures vehicles that run on renewable sources of energy. His plan to invest in such a company is tied up with his establishment of the Google.org which is Google’s philanthropic arm. He also personally donated a considerable sum of US $20 million to Voice Health Institute in Boston to fund for the vocal cord nerve function research program.

Recognition and Awards

With his contribution to the development of the internet, he was named as the Global Leader for Tomorrow in the World Economic Forum. Both Page and Brin also received from Colombia University the Marconi Foundation Prize as well as from IE Business School their honorary MBA. He also received many other awards and was elected Fellows at different universities and organizations. 

Interesting Facts about Larry Page

  • His fascination and interest in computers started at age six and he was the first in his grade school class to submit a report done in Word Processor. 
  • While studying at the University of Michigan, he created an inkjet printer from Lego bricks.
  • The name Google is a shortened version Larry Page coined from the word Googolplex which his fellow PhD student suggested. 
  • His annual salary is $1 and he refuses to receive bonuses but he ties his personal wealth directly to the performance of the company in the stock market and not on its sales and revenues.
  • Larry Page married a research scientist named Lucinda Southworth in 2007 and they have two children born on 2009 and 2011.

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"If I have seen further than others, it is by standing upon the shoulders of giants." Isaac Newton

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)