The head of Google got a raise. He can win an enormous amount of money, but there is a condition
The main element of Sundar Pichai's remuneration is shares with a target value of USD 126 million. If Alphabet significantly outperforms other S&P 100 companies, this amount could be doubled to $252 million Otherwise, the manager may not receive a dollar from it. What's more, Just for staying with the company, Pichai will receive $84 million. in restricted shares, granted in monthly tranches.
Alphabet's management board has introduced two completely new incentive programs to encourage Pichai to develop innovative business branches. It's about start-ups Waymo (autonomous taxis) and Wing (drone deliveries) – reports the Financial Times.
Combined, Pichai can get even more out of these two projects $350 million The board of directors argues that both ventures have made great progress under the current CEO's supervision and that their continued growth is in the best interests of shareholders.
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Sundar Pichai. From consultant to billionaire
Sundar Pichai's career at Google is a spectacular success story. He joined the company in 2004, building his reputation by working on the Chrome browser and Android. Since he took the helm as CEO in 2015, the company's market capitalization has increased almost sevenfold, reaching $4 billion at its peak. This made the now 53-year-old former McKinsey consultant a billionaire.
Despite fabulous earnings, Pichai's job is not free from challenges. The head of Google has been criticized in the past for being too slow to implement artificial intelligence, which allowed OpenAI to take the lead after the release of ChatGPT at the end of 2022. Pichai had to keep up with the competition by integrating advanced AI models with the search engine.
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Huge legal battles are an additional burden. The company faces antitrust charges relating to its search engine, app store and advertising network. Although a forced division of the corporation was avoided, one of the cases is still pending.
Along with great responsibility comes huge expenses on security. According to the latest reports, Sundar Pichai's personal security costs increased to $8.3 million in 2024.
