In just one day, Google Inc. gave its co-founders a $4 billion dollar present to add to their personal fortune. On Friday 17th, Google added $65 billion which made it the fastest value increase in a day in US history. Previously in 2012, Apply Inc had surged $46.4 billion.
Though Google has been ahead as one of the world’s largest company for a while, it has now further increased its value difference past Microsoft Corp. to a value of $468 billion. Microsoft is current valued at $377 billion and has some way to catch up, whilst Apple is the leading forefront with an estimated value of $746 billion.
At 4pm New York time, Google’s shares rose by 16% to $699.62. The total increase in the day was a whopping $93. We guess Chairman Eric Schmidt had a reason to celebrate this weekend, as his 1.3% ownership of Google has risen from $1.8 billion to $10.1 billion in a matter of 24hours.
This phenomenal increase is a sure sign to Google’s investors that the smartphone era will not be a hinder to the search engine giant and that it can handle all types of technological changes the future holds. Google is not the only one that had a field day last week, Facebook also saw its market value reach a record high with $266.7 billion.