Sundar Pichai is awarded $226 million in compensation for his 2022 performance. Pichai, now serving as the CEO of Google and Alphabet, received $218 million in stock while his annual salary was $2 million.
The CEOs of Big Tech are usually the highest-paid executives in the world. They make tons of money yearly for their company and receive compensation for their performance. In addition to the conventional salary, these CEOs also receive stock awards, which could be worth hundreds of millions of dollars. The CEO of Alphabet and Google, Sundar Pichai, is one of those executives awarded generous compensation in 2022.
Back in December, Google awarded a triannual stock to its CEO that was worth $210 million. In 2021, however, Pichai didn’t receive any triannual stock and just got $6.3 million as a yearly salary. Pichai’s $226 million compensation is 800 times more than the average salary of an Alphabet employee.
Google awarded $226 million to Sundar Pichai in 2022
Sundar Pichai stock award includes two tiers of performance stock, each valued at around $63 million. He has also received another $84 million in Alphabet’s restrictive stock. According to the company’s filing, 60% of Pichai’s stock is made up of the company’s performance stock units. In 2019, Pichai’s stock award accounted for 43% of Alphabet’s performance stock units, while his total compensation was $281 million.
As for 2022, other executives are also awarded stocks. Google’s senior vice president of knowledge and information, Prabhakar Raghavan, and the company’s chief business officer Philipp Schindler received $37 million for their 2022 performance. Likewise, Google’s Chief Financial Officer Ruth Porat is awarded $24.5 million in compensation.
The economic slowdown is the biggest Google concern for the years ahead. The tech giant plans to lay off 12,000 of its staff as a part of its cost-cutting campaign. Google also paused building a new campus in San Jose due to financial concerns.
The company is also facing the most challenging competition since its existence. ChatGPT has posed a serious threat to Google’s dominance in the search industry, and it might vanish from Google’s search business. Some sources also reported that Samsung might choose Microsoft Bing as its default search engine for Galaxy devices and ditch Google.
2023-05-01 15:04:57