Google's Parent Company Alphabet Achieved The $1 Trillion Milestone
Dhir Acharya - Jan 21, 2020
Last week, Google’s parent company Alphabet achieved an important financial milestone as it hit the $1 trillion mark regarding its market capitalization.
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Last week, Google’s parent company Alphabet achieved an important financial milestone as it hit the $1 trillion mark regarding its market capitalization. This makes Alphabet the fourth tech firm, after Amazon, Microsoft, and Apple, to reach the threshold.
This news comes in a transition period of the company. In December 2019, Google co-founders Sergey Brin and Larry Page said that they would resign from their positions as Alphabet leaders, and Sundar Pichai – Google Chief Executive Officer, would run the whole company.
This is also the most tumultuous time for Google in 21 years of its history. The company is under antitrust investigations from officials of the state and the federal. Apart from that, its workforce is protesting against the company’s work in China, its contract with the Pentagon, as well as the way it handles sexual harassment allegations involving its senior executives.
However, these controversies couldn’t hurt the Alphabet’s stock value. With its advertising business as the main moneymaker, the firm earned annual revenue of nearly $140 billion in 2018. In 2015, as part of a restructuring, Google’s internet businesses like YouTube, maps, and search, were separated from more experimental ones like med-tech and self-driving car projects.
Google did not respond immediately to a comment request on its hitting the $1 trillion mark.
In early December 2019, Sundar Pichai became the Chief Executive Officer of Alphabet, Google’s parent company. He has been working at Google for 15 years and had been the CEO of Google before this promotion. With his new role, Pichai now receives an annual salary of $2 million, along with a huge pay package.