Sergey Brin gifts $1.1 billion in Alphabet stock after AI rally

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Sergey Brin gave away more than $1.1 billion worth of Alphabet Inc. stock this week, with most of the money going to a nonprofit the Google co-founder created.

The donation was disclosed Friday in a regulatory filing, which didn’t specify who had received the more than 3.5 million shares. According to a spokesperson for Brin’s family office, roughly $1 billion in stock is going to Catalyst4, which the billionaire started in 2021 with the dual purpose of supporting research into central nervous system diseases and climate-change solutions.

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Sergey Brin gifts $1.1 billion in Alphabet stock after AI rally


Sergey Brin gave away more than $1.1 billion worth of Alphabet Inc. stock this week, with most of the money going to a nonprofit the Google co-founder created.

The donation was disclosed Friday in a regulatory filing, which didn’t specify who had received the more than 3.5 million shares. According to a spokesperson for Brin’s family office, roughly $1 billion in stock is going to Catalyst4, which the billionaire started in 2021 with the dual purpose of supporting research into central nervous system diseases and climate-change solutions.

Brin is…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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