Alphabet Chief Executive Officer Sundar Pichai’s pay package in 2023 soared to $226 million in 2022. This came as a triennial stock valued at $218 million was awarded to Pichai.
The Madurai-born business executive’s pay package now dwarfs down the compensation of many other Silicon Valley technology magnates.
Sundar Pichai’s salary was just $6.3 million in 2021 when he was not entitled to the stock award he last received last year. The information was revealed in a filing from the Alphabet Inc. on Friday. Pichai’s salary remained at a steady $2 million during past three years.
Alphabet Inc. stock award: What is it?
Among the perks received by an Alphabet Inc. chief executive is a stock award from the company. It is awarded once in three years. Pichai received a similarly sized package in 2019.
In 2019, Pichai received $281 million pay package.
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Pichai’s package put him well above other executives at Alphabet in 2022.
Prabhakar Raghavan, the senior vice president of Google’s knowledge and information, and Philipp Schindler, chief business officer, both took in about $37 million. Chief Financial Officer Ruth Porat’s compensation was $24.5 million. Their stock grants are given out on an annual basis, Bloomberg reported.
CEO stock awards: A matter of controversy in Silicon Valley
CEO compensation has been a matter of controversy in the Silicon Valley. This has become more pertinent after a wave of layoffs that began in the last quarter of 2023. Among the notables, Apple Inc. CEO Tim Cook slashed his 2023 pay after he was paid $100 million in 2022 and 2021.
Alphabet, too, has cut about 12,000 jobs, or 6 per cent of its global workforce, following months of other cost-cutting measures.
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