HomeWorldGoogle CEO Sundar Pichai paid more than $200 million in 2022 in...

Google CEO Sundar Pichai paid more than $200 million in 2022 in cut costs

Alphabet Inc. CEO Sundar Pichai pay package rises to $226 million in 2022 with three years of stock support, making him one of the highest-paid corporate leaders in the world.

His salary per share award is $218 million, Google’s parent company said on Friday. He received $6.3 million in compensation in 2021 without a grant, and his salary has remained at $2 million over the last three years.

The 50-year-old CEO navigates a competitive field where AI products from OpenAI, such as the chatbot ChatGPT, threaten Google’s search dominance. A larger tech slowdown also weighed on the company, sending shares down 39% in 2022. However, they rebounded by 19% in 2023.

Pichai’s stock award is on a three-year plan and he will receive the same package in 2019. That year, the executive received a bonus of $281 million.

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CEO compensation has become a hot topic in the tech industry, especially after layoffs at Alphabet and other large companies. Apple Inc. CEO Tim Cook reduced his 2023 payout after experiencing $100 million in earnings over the past two years.

Pichai’s package puts him ahead of other Alphabet CEOs in 2022. Prabhakar Raghavan, Google’s senior vice president for education and information, and Philip Schindler, chief operating officer, both earned $37 million. Chief Financial Officer Ruth Porat’s compensation is $24.5 million. The stock grant is awarded annually.

In January, Alphabet began cutting about 12,000 jobs, or 6 percent of its global workforce, after months of other measures to cut costs and set new priorities. The median salary for Alphabet employees in 2022 is $279,802, according to the filing. Pichai’s compensation amount was 808 times.

As part of the compensation package, Alphabet spent $5.94 million on personal security for Pichai.

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