Alphabet’s New Boss Means $2 Billion for Departing Founders (2)

Larry Page and Sergey Brin just got a $2 billion retirement gift from investors.

The Google co-founders, who announced on Tuesday they were stepping down from day-to-day management of parent Alphabet Inc., added about $1 billion each to their net worth as of 10:15 a.m. in New York, after the firm’s shares rose 1.8%.

They each own about 6% of the internet giant and still control Alphabet through special voting shares.

The gains come as investors welcome Sundar Pichai’s elevation to chief executive officer of Alphabet, replacing Page in the role. It means the three most valuable U.S. tech ...