Sundar Pichai Receives A Rs 1,700 Crore Pay Package After His Promotion

Just recently, Sundar Pichai got promoted to become the CEO of Alphabet, the parent company of Google. The announcement was made by Larry Page, Google’s co-founder, a few weeks ago.

And now, we finally can know what kind of pay package and increment Sundar Pichai will receive after his promotion.

According to a CNBC report, as opposed to $650,000 Pichai received as the CEO of Google, the position as the CEO of Alphabet will give him $2 million or Rs 142,256,000.

But he won’t be receiving that only. $240 million or Rs 1,700 crore in time-based stock options.

Moreover, Pichai is also eligible for what is called a performance-based stock unit. This stock unit consists of two different parts. Each part is worth $45 million. This depends on the performance of the Alphabet’s shareholder returns over the next two years.

Despite the mind-blowing amount of money, this is not the first time for Sundar Pichai to receive such pay for his efforts in running the search-engine enterprise. Back in 2016, stock awards worth $200 million were given to Pichai.

Last year, since he felt that his pay was already generous, he declined a restricted stock grant. Bloomberg Pay Index stated that the total compensation of Pichai for 2018 was $1.9 million.

Since he became Google’s CEO in 2014, he has earned a total of $550 million in stock.

As the CEO of Alphabet, Pichai will take on a more dynamic role with more responsibilities and challenges. In the past few weeks, there were reports suggesting that five employees of Google were fired for organizing employee protests. In contrast, Google stated that they were fired for violating employee policies instead.