Sergey Brin’s net worth drops $29 billion as Alphabet stock tumbles

The fortunes of Sergey Brin and Larry Page took a hit as Alphabet's stock fell over 12%. This decline was fueled by slower growth in Google's fundamental search sector and increasing expenditures on AI projects. Although cloud services demonstrated impressive growth, the company's quarterly revenue came in below expectations, heightened by new European regulations and significant AI spending, spurring concerns about future profitability.