Brin's net worth falls $29 billion as Alphabet shares drop over 12%
Alphabet's stock slid more than 12%, reducing the wealth of co-founders Sergey Brin and Larry Page. The decline was driven by slower growth in Google's core search business and rising spending on artificial intelligence projects. Although the cloud division grew strongly, overall quarterly revenue fell short of expectations. New European regulations added to investor concerns about the company's future profitability.
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