Google’s CEO Sundar Pichai received a whopping $200 million compensation package last year for running the internet company that makes nearly all the money for Alphabet Inc.
Most of the pay consisted of Alphabet stock that the company valued at $198.7 million in securities documents. Alphabet gave the award to Pichai in January 2016, a few months after he succeeded Larry Page as Google’s CEO. Pichai still reports to Page, a Google co-founder who is now Alphabet’s CEO. Page limits his annual pay to $1 because he already has an estimated fortune of $41 billion.
The 44-year-old Pichai also received a $650,000 salary last year, slightly less than the USD 652,500 he earned in 2015 in addition to personal security services and air travel valued at $372,000.
But the long-time Google employee, who was named CEO during the company’s reorganization in August 2015, received a stock award of USD 198.7 million in 2016, roughly double his 2015 stock award of USD 99.8 million.
Under Pichai, Google has boosted sales from its core advertising and YouTube business, while also investing in machine learning, hardware and cloud computing, the report said. In 2016, Google unveiled new smartphones, a virtual reality headset, a router, and a voice-controlled smart speaker. These efforts have started to pay off for the company.
Google’s “other revenues”, a category that includes hardware and cloud services, hit nearly USD 3.1 billion in the most recent quarter, a gain of about 50 percent from the same quarter a year earlier. Alphabet’s stock has soared this year, pushing it above a USD 600 billion market cap this week for the first time, the report said.
Google’s CEO Sundar Pichai
Google’s investment into artificial intelligence, cloud computing, hardware, and machine learning has also witnessed growth. It is worth mentioning that Google’s ‘other revenues’ category, which includes hardware and cloud services, hit nearly $3.1 billion in the recent quarter, indicating about 50 percent of gain from the quarter a year before.
Despite earning big, the millionaire CEO has not forgotten his roots in India and in his recent interview revealed the company’s plans to further accelerate the government push towards a digital economy. The 44-year-old IIT Kharagpur alumni expressed support for the United Payments Interface (UPI), which is the latest platform sprouting out of the demonetization announcement.
Without getting into the details, he said, Google is “understanding what UPI is and the power of the stack built here,” adding, “maybe we will bring services from Google on top of UPI which will make things better for users in India.” He further added how India is well-positioned to become a strong digital economy