Google Founders Contemplate Family Office

Contributing Editor

5 December 2005

Google founders Sergey Brin and Larry Page, and the group’s chief executive Eric Schmidt are contemplating launching a family office, according to a report in the US-based publication, Private Asset Management. The details of the planned launch have yet to be announced, but the three individuals are among the wealthiest Americans. Both Mr Brin and Mr Page are estimated by Forbes magazine to have a personal fortune of $7.2 billion, which places them in the top 100 wealthiest people in the world. Mr Schmidt is estimated to have a personal fortune worth $2.8 billion. Last week, WealthBriefing reported on wealth managers trying to sell their services to Google employees, with the firm drawing up a list of acceptable wealth managers allowed to pitch to staff. UBS, JP Morgan, Credit Suisse, Morgan Stanley, and two local wealth managers: Presidio Financial Partners and Sanford C. Bernstein & Co, were given access to Google’s estimated 1,000 millionaires and five billionaires.