The Google CEO Sunder Pichai is getting a nice pay-day to go along with his new role as CEO of the internet search company. He has been awarded $199m (£138m) worth of shares, making him the highest paid chief executive in the US.
Indian-origin Pichai became the CEO of the company in last October, was handed 273,328 shares, according to a company filing, worth $199m when they were awarded. Pichai received roughly $183 million in stock, which will vest over a period of four years, according to a regulatory filing. The pay package appears to be one of the largest awarded to a Google executive.
However, Pichai raise is still less than the fortunes made by Google’s founders, Larry Page and Sergey Brin, who are worth $34.6bn and $33.9bn according to Forbes. It is also a lot less than Google’s former CEO, Eric Schmidt, who holds shares worth $3bn.
Tim Cook was given a similar huge raise e valued at $378 million when he became Apple's CEO. The highest-paid CEO of 2014 was David Zaslav of Discovery Communications, who was paid $156.1 million.
Mr. Pichai joined Google in the year 2004, where he worked on launching the Google tool-bar which allowed Internet explorer and Firefox customers to make Google their default search engine. He became the CEO of Google in October, after the company restructured and created the new Alphabet holding company. Alphabet is comprised of the traditional Google Internet business and various separate companies focused on "other bets," such as the high-speed broadband business Google Fiber and the home appliance business Nest. The hefty pay package underscores how important Alphabet's flagship search engine remains to the company, even as it diversifies into other projects, and how much the company wants Pichai to stick around.
Mr. Pichai celebrated his award, which will vest in quarterly increments until 2019, by watching the Super Bowl and meeting NFL legend Ronnie Lott.