In December last year, Google’s parent company Alphabet approved a new equity award for Sundar Pichai which linked more of his pay to his performance.
Sundar Pichai, the Chief Executive Officer (CEO) of Google and Alphabet, is one of the most successful Indians who have worked their way to the top. He joined the tech giant in 2004 and contributed to the development of some key consumer products of the company that are widely used across the world. He worked closely with the company’s co-founders and was appointed as the CEO of Google in 2015. Sundar Pichai is also among the wealthiest top C-Suite executives in the IT sector and takes home a massive pay every year.
Read More: Buy Now Pay Later vs Personal Loan: Know which is better
According to a filing by Google in 2020, Sudar Pichai’s annual salary stood at $2 million or approximately Rs 16.50 crore. According to the IIFL Hurun India Rich List 2022, the Google CEO witnessed a decline in its net worth, which slumped 20% to Rs 5,300 crore in 2021. This meant that Sundar Pichai lost one-fifth of his wealth. However, despite the fall in the figures, the Google CEO was still ranked seventh on the Hurun Richest Indian Professional Managers List.
Sundar Pichai, in a town hall meeting with Google employees this year, announced that those above the senior vice-president level will get a cut in their annual bonus, according to reports. Going by this, Sundar Pichai is also likely to be impacted by the pay cut. However, he did not mention the exact percentage of the salary cut for the employees. This came after Google laid off 12,000 of its staff in January 2023.
But, even after the pay cut, Sundar Pichai is likely to still draw a significant salary.
Read More: Govt announces substantial hike in windfall tax on locally produced crude oil, diesel and ATF
In December last year, Google’s parent company Alphabet approved a new equity award for Sundar Pichai which linked more of his pay to his performance. According to Alphabet, the performance stock units (PSUs) were increased from 43% in 2019 to 60%. This increased the performance required for the payout. The CEO is given an equity award every three years. He was granted two tranches of PSU’s with a target value of $63 million while a grant of $84 million was also given to him.
The CEO leads a very simple lifestyle. Along with his wife and two kids, he resides in the San Francisco Bay area. He had bought a 10,000 sqft residential property in Los Altos Hills, California in 2014, according to reports. It boasts amenities like a tennis court and a course for miniature golf and is estimated to cost around US $2.9 million (roughly Rs 24 crore). Additionally, he owns several properties in India. He also enjoys driving and has six expensive cars, including a Tesla and a Cadillac, according to reports.
