The world’s leading tech company Google has offered its Indian-origin CEO Sundar Pichai a salary package which is being discussed all over the world. The company has increased Pichai’s total potential earnings over the next three years to approximately $692 million (approximately ₹6361 crore). After this deal, Pichai has become one of the world’s highest earning CEOs.
A large part of Pichai’s package is linked to Performance Stock Units (PSUs). The target value of these stocks is said to be around $126 million. This stock will be given in two parts and its actual value will depend on how well Google’s parent company Alphabet Inc. performs in the stock market. If Alphabet performs better than its rivals, this amount could double to $252 million. At the same time, if the performance is less than expected then its payment may also reduce.
You will get separate salary and stock every year
Pichai will not only receive stock but will also receive a base salary of $2 million (about ₹16 crore) every year from the company. Apart from this, they will also be given extra stocks worth about $84 million in the next three years, which will gradually vest every month.
Big reward is also associated with Waymo and Wing
Google has also added two new stock incentives to Pichai’s package. These include bonuses related to the growth of the company’s self-driving taxi unit Waymo and drone delivery startup Wing Aviation. If the performance of both these businesses is better, then Pichai can get an additional reward of up to $350 million. This means that the total package price can increase significantly.
Holding the reins of Google since 2015
Sundar Pichai took over as CEO of Google in August 2015. Under his leadership, there has been a tremendous jump in the market value of the company. At that time the value of the company was about 535 billion dollars, which has now increased to about 3.6 trillion dollars.
Pichai’s total wealth also increased
The rapidly increasing value of the company has also affected Pichai’s personal wealth. According to reports, his total net worth is estimated to be around $1.5 billion. Pichai and his wife together also hold 16.7 lakh Google shares.
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