Sergey Brin, co-founder of Google, donated more than $1.1 billion in Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) stock this week, according to a regulatory filing disclosed on Friday.
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Brins Donates To Health And Climate Startup Catalyst4
A spokesperson for Sergey Brin's family office told Bloomberg that about $1 billion in Alphabet Inc. stock was donated to Catalyst4, a nonprofit he founded in 2021 to support research on central nervous system diseases and climate-change solutions.
Brin created Catalyst4 by selling $366 million in Tesla Inc. (NASDAQ:TSLA) shares.
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The filing showed that Sergey Brin transferred more than 3.5 million Alphabet Inc. shares, including 1,778,650 shares of Class A Common Stock and 1,778,650 shares of Class C Capital Stock, though it did not specify the recipients.
According to Bloomberg, Brin allocated about $90 million to his family foundation and $45 million to the Michael J. Fox Foundation, which supports research on Parkinson’s disease.
Earlier this year, Brin gave $700 million worth of Alphabet shares to the same three charities after coming out of retirement in May to work on Gemini.
With a net worth of $235 billion, the American computer scientist is currently the fourth richest person in the world. This year, his net worth increased by $76.9 billion.
Stock Performance
Alphabet’s stock has increased 85.08% in the last six months and 67.93% so far this year on the back of the tech giant’s AI ambitions.
The multinational technology conglomerate's shares have traded between $142.66 and $328.67 over the past year, and the company has a market capitalization of $3.87 trillion.
Benzinga’s Edge Stock Rankings highlight that Alphabet stock has a Quality score of 87.95. Track the performance of other players in this segment.
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