Sundar Pichai to get salary hike from 2020

Sundar Pichai to get salary hike from 2020

Alphabet and Google CEO Sundar Pichai is one of the richest corporate executives. He will reportedly take home $240 million stock package ($90 million of it tied to Alphabet's performance) on top of a $2 million annual salary in 2020. Pichai will also start receiving a substantial raise from January 1 to $2 million a year, said reports.

Due to the expanded role as CEO od Alphabet and Google, Pichai is being given a compensation package as a part of recognition On Thursday, he received $90 million in stock awards that will vest by the end of 2022 "depending on Alphabet's shareholder returns compared to the S&P 100".

"Pichai also received two other stock grants, of $120 million and $30 million, neither tied to performance but subject to his continued employment," the report said, citing the filing. As we know, Google co-founders Larry Page and Sergey Brin decided to handover their current positions in the parent company Alphabet earlier this month, making India-born Pichai the CEO of both Google and Alphabet.

Sundar Pichai, who was born in Chennai, joined Google in 2004. He has initially developed Google Toolbar and Google Chrome, the world's most popular internet browser now. Sundar became Google's CEO in August 2015. He joined the Board of Directors of Alphabet, Google's parent company, in July 2017.

In 2017 Pichai received $131 M stock options. As per Google 2018 3rd Quarter Investor report, google stock-based payout has increased by over 20% in 2018. Which means,  Sundar Pichai must have gotten $200 Million in 2018 similar to what he got in 2016. In short, Sundar Pichai is loaded with money and increasing google share prices is making him richer!