Alphabet CEO Sundar Pichai has a new job and more responsibility. And with that, comes plenty of dollars, according to a new company filing.
On Friday, Google parent company Alphabet revealed that Pichai will receive a $2 million annual salary for his new role starting in 2020. Additionally, he stands to make another $240 million in stock awards, according to the company's filing.
All in, for his new gig, Pichai can make $242 million, with many more millions to come over the next few years.
But in order to actually get that total sum, Pichai will have some work to do. He'll still make $2 million a year for his salary and $150 million of the total sum will be given to him regardless of performance. The remaining $90 million will go to him, as long as Alphabet outperforms the S&P 100 between 2020 and 2022. A really good job, in other words, nets him tens of millions of additional dollars.
It's the latest bit of good news for Pichai, who previously served as Google CEO, but still reported to co-founders Larry Page and Sergey Brin. Earlier this month, however, the co-founders announced that Pichai had been elevated to Alphabet CEO, allowing him to run all facets of the business.
Of course, it's not uncommon for a major tech company's CEO to make so much money. And Pichai has been the recipient of plenty of stock awards over the years, including a $200 million windfall in 2016.
However, according to Bloomberg, which earlier reported on Pichai's compensation, there has been some concern among Google employees about how much Pichai makes each year. In fact, at one staff meeting this year, according to Bloomberg's sources, a Google employee asked why Pichai makes so much more than employees who are trying to make ends meet in the high-cost Silicon Valley.
While it's unknown how Google responded at the meeting, the company's decision to invest more than $240 million in Pichai suggests it doesn't see any problem with how much he makes.
Perhaps the most interesting development, however, could center on whether Pichai takes the stock awards at all. According to another Bloomberg source, Pichai had been given stock awards at some point in the past couple of years and declined them because he felt he already had enough money.
If anything is certain, it's that if Pichai wants or needs more cash, Google will be more than happy to give it to him.