Google CEO Sundar Pichai gets $242 million pay package after taking control of Alphabet

Google CEO Sundar Pichai got the promotion of a lifetime earlier this month, when company co-founders Larry Page and Sergey Brin relinquished control of parent company Alphabet Inc. to the longtime Google executive and stepped back after more than two decades at the search giant.

Now, Pichai’s compensation is changing to reflect his new dual role as Alphabet and Google chief executive. Citing a financial filing published Friday, Pichai is being granted a $240 million stock package on top of a $2 million annual salary to take effect in 2020. The stock package is tied to performance metrics and will be paid over the course of three years. Accordingly Pichai could make an additional $90 million pending Alphabet’s share performance in relation to the S&P100 Index. This is the first time the company has granted performance-based stock grants.

Pichai is already one of the highest paid executives in Silicon Valley, having held the job of Google CEO since 2015 when Page and Brin first restructured the company to create Alphabet. His salary last year clocked in at $1.8 million and prior to that Pichai is reported to have made $650,000 a year.

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Google CEO Sundar Pichai gets $242 million pay package after taking control of Alphabet
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