Securities Documents Revealed Sundar Pichai Earned $200 Million in 2016
Security filing reveals that Google CEO Sundar Picai, was paid a heap of money, to the tune of $200million, in 2016, for running the company.
Pichai, 44, succeeded Larry Page as Google’s CEO. He still reports to Page, a Google co-founder who is now CEO of a new company called Alphabet. CEO.
Alphabet award Picai the bulk of the money, in company stock, valued at the time around $198.7 million in January 2016. company valued at $198.7million in securities documents filed Friday for the Mountain View, California company.
Page limits his annual pay to $1 because he already has an estimated fortune of $41 billion.
The stock that Pichai received will vest in quarterly increments through January 2020. Alphabet’s profit rose 29 per cent to $5.43billion, a performance that analysts called exceptional for a company so large.
Pichai also received a $650,000 salary last year in addition to personal security services and air travel valued at $372,000.
In 2015, he received a total compensation of $100.7 million according to MarketWatch.
Google is expected to command a 61.6 per cent share of the search ad market worldwide in 2017, up from 60.6 per cent in 2016, according to research firm eMarketer.
Mobile ads command lower prices than desktop ads, but growing volume is more than making up the difference, analyst James Wang of ARK Investment Management told Reuters.
‘Our great properties – like Search, Maps, YouTube and Google Play — are the “prime time” for the mobile world, where people are actively engaged and interested,’ Google Chief Executive Officer Sundar Pichai said during a call with analysts.
Google’s revenue rose 22.2 per cent to $24.75bn from $20.26bn in the quarter ended March 31.