Google’s Sundar Pichai is now the highest earning CEO in the entire country. This comes after he was awarded shares worth $199 million.
The equity award granted to Pichai by Alphabet Inc. has pushed him up the ranks to reach the top-most paid CEO in the U.S. and to celebrate this, the man behind the globe’s most popular company decided to watch the Super Bowl game. This news came in after Alphabet’s security filings revealed that the company will be giving out up to 273,328 Class C shares. According to the filings, the shares will then vest in quarterly increments up until 2019 as long as Sundar Pichai remains to be at the helm of the company.
Awarding Sundar Pichai the close to $200 million worth of shares makes him the first to reach such margins in the history of the company. Even though this equity stake is the largest ever Google has ever offered any of its Chief Executives, it is not the largest so far in history. In 2011, Apple awarded stakes worth $376 million to the successor of for CEO Steve Jobs – Tim Cook. Before coming to his current position, Pichai was the deputy of Google’s co-founder Larry Page.
Pichai now commands a $650 million share in Alphabet Holdings
In addition to becoming the highest-paid CEO in the U.S., Sundar Pichai has now reached an approximate total of $650 million as far as his Alphabet Holdings are concerned. Despite owning such a significant stake in the company, the current CEO of Google is nowhere near what Alphabet’s top heads Larry Page, Eric Schmidt and Sergey Brin hold in terms of stakes.
Other top names in the company to have been awarded more shares include the head of cloud business operations Diane Green, who received shares worth $42.8 million while CFO Ruth Porat received $38.3 million.
Google Company has with no doubt been on the rise and as a way of appreciating the efforts put in by its leaders, the company has resolved to grant them with loads of cash. Google has in the past been awarding its executives after every two years in what it believes will encourage the managers to stay longer with the organization as well as take long-term views of the business.
Sundar Pichai is renowned for his efforts towards the success of the most popular web browser in the world – Chrome. Later on, he went to the Android department and stayed there for a few years and at the moment, Alphabet is aware that many top companies would jump at the chance to have his signature. It is why the company has granted Pichai such a decent amount of shares in the company he has dedicated almost his entire professional life to.