Sundar Pichai has become one of the most highly remunerated CEOs in the business after being awarded a whopping great chunk of stock.
Google’s holding company, Alphabet, became the most valuable company in the world for brief time earlier in the month, after an impressive earnings call saw its worth raised to $560 billion.
A considerable chunk of the company’s recent success can be put down to the focus and vision of Sundar Pichai, who took over as CEO in August.
In recognition of his efforts, Pichai has just been awarded 270,000 shares of restricted stock. That works out to a staggering $199 million, or around £138 million.
As The Guardian
points out, Pichai’s £138 million stock award is worth more than the
£130 million Google begrudgingly agreed to pay the UK government in back
taxes dating to 2005 – or approximately two to three percent of its
profits during that period.
The information regarding Pichai’s stock grant emerged from a filing obtained by Bloomberg. It brings the Google CEO’s shares in the company to $650 million, and makes him the highest paid CEO in the US.
Related: See also: What is Alphabet? Google’s parent company explained
Of course, he won’t get to claim all of that money straight away. It’ll pay off in quarterly increments through 2019, provided he stays in the job. That’s some sweetener.
Pichai also is far from the the richest man at Google. Company co-founders Larry Page and Sergey Brin are worth an estimated $34.6 billion and $33.9 billion, while former CEO Eric Schmidt holds shares worth $3 billion.