• Category: News

Google Boss Awarded $199m to Become Highest Paid In US

Sundar Pichai, Google’s chief executive has been awarded shares worth $199m, making him the highest paid chief executive in the US.

Google Boss Awarded $199m to Become Highest Paid In US

Mr, Pichai was named CEO of Google in 2015, following the creation of Alphabet, the parent company.

According to Forbes, Sergey Brin and Larry Page, the founders of the search engine giant have massive fortunes to the tune of $33.9bn and 34.6bn respectively.

On February 3, Mr. Pichai was awarded 273,328 shares of the Alphabet parent company, according to a US Securities and Exchange Commission filing.

The new batch of shares brings Google CEO’s stock value to about $650m. Mr. Pichai’s share value will vest each quarter on an upward trend until 2019. This means he will only receive full control of the shares gradually.  

Mr. Pichai has been working with Google since 2004, where he led product management for a number of products including Google Drive, Google Chrome and Chrome OS. He was also at the forefront in the development of Google Maps and Gmail.

Prior to joining Google, he worked in product management and engineering at Applied Materials and at McKinsey & Company as a management consultant.

The awarding of the shares comes amidst increased scrutiny over Google’s tax obligations. Recently, the company entered into a deal with HM Revenue & Customs in which Google was required to pay taxes dating back to 2005.

According to Google’s regulatory filing between 2005 and 2014, the company generated sales worth $34.6bn in the UK only.

Last week, Google’s parent company, Alphabet, outdid Apple to become the most valuable firm in the world following a record profit of $4.9bn, an increase from $4.7bn a year ago.

Annually, Alphabet generated revenues to the tune of $16.3bn. Meanwhile, Google’s operating income increased to $23.4bn, a rise attributed to an increase in online advertising.

 

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