Sundar Pichai's Alphabet Is Close To Becoming The Fourth Tech Firm Worth A Trillion
Dhir Acharya - Jan 14, 2020
Sundar Pichai has just become the CEO of Alphabet late last year and has already got some good news for the tech company.
- Sundar Pichai Receives A Rs 1,700 Crore Pay Package After His Promotion
- As Larry Page Steps Down From His Position, Google CEO Sundar Pichai Becomes Alphabet CEO
- Alphabet's Loon To Bring Internet Connectivity To People In Amazon Remote Areas
The year 2019 ended well for Sundar Pichai with his new role as the Chief Executive Officer at Alphabet, Google’s parent company, a big raise, and tempting stock options.
Now, the new year has just begun and the CEO has already had some good news. After analysts left positive comments about the company’s prospect this year, Alphabet’s share price went up by 1.2% during the pre-market trading last Thursday. At least three financial companies increased their targets on Alphabet’s stock, mainly due to the fact that its ad business is showing a promising growth, which is partly attributed to spending on political ads for the US 2020 elections.
As a result, Alphabet closed on Wednesday at a market capitalization of $969 billion, which means the tech giant has gained over 35 percent compared with June 2019.
While the biggest potential is seen in the firm’s advertising business, many analysts also see a bright future on YouTube.
A recent report from Bloomberg revealed that up to now, there have been 40 analysts recommending buying the tech giant while five have a hold rating on its stock. Alphabet’s share price is now about $1,467, 4% higher than the most recent close.
With positive comments and expectations from analysts, Alphabet is now the second tech firm led by an Indian-origin Chief Executive Officer to touch the trillion-dollar valuation mark, after Microsoft. On the other hand, it has also become the fourth tech firm to touch this mark, after Microsoft, Apple, and Amazon.
Apart from its most well-known businesses like Google, Android, and YouTube, Alphabet also owns a lot of other businesses. Some examples include Waymo – a company specialized in self-driving car tech, Verily – a company working on health care software, Google Fiber – a firm that develops high-speed gigabit internet connection, DeepMind specialized in advanced artificial intelligence, etc.
In early December 2019, we learnt that Sundar Pichai was chosen to be Alphabet’s CEO. With the new role and responsibility, the Indian-origin tech mogul now receives an annual salary of $2 million, meaning Sundar Pichai salary in rupees is approximately 14.1 crores. You can see the details about his new salary here.
As of December 2019, the net worth of Sundar Pichai was $600 million, but with the new promotion, we expect his net worth to go up this year.