Sergey Brin donates $1.1B in Alphabet stock to charities post-AI surge
Sergey Brin donated over $1.1 billion in Alphabet Inc. stock this week, primarily directing the funds to a nonprofit organization he established. The donation was revealed on Friday through a regulatory filing, which did not identify the recipient of the over 3.5 million shares. A spokesperson for Brin’s family office stated that approximately $1 billion in stock is being allocated to Catalyst4, an initiative launched by the billionaire in 2021 aimed at advancing research into central nervous system diseases and addressing climate-change solutions.
Brin is also donating approximately $90 million to his family foundation, according to the spokesperson, along with $45 million to the Michael J. Fox Foundation, which funds research into Parkinson’s disease. In May, Brin had previously distributed Alphabet shares valued at $700 million to the same three charities. Brin, 52, ranks as the fourth richest individual globally, boasting a fortune of $255.5 billion, as per reports.
His net worth has surged this year, propelled by a rally in Alphabet shares, which reached a peak of $323 on Tuesday, bolstered by the company’s advancements in artificial intelligence. Brin possesses an approximate 6% overall stake in the company and has witnessed his wealth increase by $97.3 billion this year to date.
