According to Forbes, Google parent company Alphabet’s stock jumped 2.8% following the release of its Gemini 3 AI model on Wednesday. The company claims Gemini 3 is the first AI model demonstrating Ph.D.-level academic reasoning. This surge boosted Google cofounder Larry Page’s net worth by approximately $7.6 billion, making him the world’s third-richest person with $240.9 billion and pushing him past Amazon’s Jeff Bezos. Fellow cofounder Sergey Brin gained $7 billion, becoming the fifth-richest person globally. Despite these massive gains, Page still trails Elon Musk’s $467.7 billion fortune by a significant margin. Both cofounders benefited from their substantial stakes in Alphabet, with Page holding 3.2% of the company.
The AI wealth effect is real
Here’s the thing about today’s tech landscape: AI announcements are basically the new rocket fuel for billionaire portfolios. When Google drops a major AI model like Gemini 3, it’s not just a technical achievement—it’s an immediate wealth generator for the people at the top. Page and Brin just added a combined $14.6 billion to their net worths in a single day. That’s more than the GDP of some small countries.
But what does this actually mean for the rest of us? Well, it shows how concentrated the AI wealth creation has become. While regular investors might see modest gains, the real jackpots are going to founders and early stakeholders. And this isn’t just a Google phenomenon—Nvidia also reported strong earnings with $57 billion in revenue, proving the entire AI infrastructure ecosystem is booming.
Beyond the billionaire headlines
Meanwhile, the broader tech landscape keeps evolving in fascinating ways. We’re seeing AI startups like AGI, Inc raising $50 million at $500 million valuations to develop assistants that can actually use devices for humans. And in biotech, Profluent just secured $106 million from Jeff Bezos’ fund for AI protein design. So while the billionaire wealth grabs headlines, there’s serious money flowing into practical AI applications that could actually change how we interact with technology.
The crypto market isn’t sharing in this optimism though—bitcoin fell nearly 2% Wednesday, continuing a brutal six weeks that wiped out over $1 trillion from its market cap. It’s becoming increasingly clear that while AI is attracting massive investment, other tech sectors are struggling to maintain momentum.
Hollywood’s streaming pivot
In entertainment, Mark Wahlberg’s embrace of streaming reveals how the industry is transforming. He’s making $20-25 million per direct-to-streaming project, which would have placed him fifth on 2024’s highest-paid actors list. That’s a huge shift from the traditional box-office model. Basically, streaming platforms are betting that recognizable faces still drive clicks, even if they don’t guarantee theatrical success.
So what’s the takeaway? Whether it’s AI boosting tech fortunes or streaming reshaping Hollywood, we’re watching multiple industries transform simultaneously. The common thread? Technology continues to redistribute wealth and opportunity in ways that would have seemed unimaginable just a decade ago.
