it seems that the C in Alphabet stands for crazy money.
Google CEO Sundar Pichai acquired nearly $ 199.7 million in compensation last yr, double the quantity he made in 2015, in line with a filing Friday from Google’s father or mother firm, Alphabet (GOOGL, Tech30).
Pichai’s base pay was a mere $ 650,000. On prime of that, he obtained a stock award for $ 198.7 million. the company’s compensation committee attributed the lavish pay to Pichai’s merchandising to CEO and “a large number of successful product launches.”
Pichai, a longtime Google govt, took over as CEO as part of a company restructuring in 2015. Larry web page, Google’s cofounder and former CEO, shifted his focal point to growing new companies underneath the Alphabet umbrella.
related: Google cofounder’s ‘flying automobile’ makes its debut
under Pichai, Google has boosted sales from its core advertising and YouTube industry, whereas additionally investing in machine learning, hardware and cloud computing.
In 2016, Google unveiled new smartphones, a digital truth headset, a router, and a voice managed sensible speaker similar to the Amazon Echo.
These efforts have started to pay off for the corporate.
Google’s “other revenues,” a category that features hardware and cloud products and services, hit virtually $ 3.1 billion in probably the most contemporary quarter, a acquire of about 50% from the identical quarter a 12 months earlier.
Alphabet’s stock has soared this 12 months, pushing it above a $ 600 billion market cap this week for the first time.
CNNMoney (ny) First published April 28, 2017: 6:07 PM ET
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