Sundar Pichai's 2022 payout soars to $226 million!
California, April 22: Alphabet Inc. Chief Executive Officer Sundar Pichai's pay package for 2022 was revealed to be an impressive $226 million, with a large portion of the amount made up of a triennial stock grant worth $218 million.
Pichai's salary has remained at a steady $2 million for the past three years, with the additional stock award making up the bulk of his pay package.
As the CEO of Google, Pichai has had to navigate a competitive industry, with AI products such as the chatbot ChatGPT from startup OpenAI threatening to undermine Google’s dominance in search. Tech slowdown has also taken its toll on the company, leading to Alphabet's shares sliding 39 per cent in 2022. However, they have since made a comeback, rising 19 per cent in 2023.
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The CEO’s compensation put him well above other executives at Alphabet in 2022. Prabhakar Raghavan, the senior vice president of Google’s knowledge and information, and Philipp Schindler, chief business officer, both took in about $37 million, while Chief Financial Officer Ruth Porat’s compensation was $24.5 million. Their stock grants are given out on an annual basis.
In January of 2023, Alphabet began cutting about 12,000 jobs, or 6% of its global workforce, in order to reduce spending and set new priorities. The median total compensation for Alphabet employees in 2022 was $279,802, while Pichai's compensation was 808 times that amount. Additionally, Alphabet spent $5.94 million on personal security for Pichai.
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- With inputs from agencies
