Alphabet CEO Sundar Pichai’s pay jumps to $226 million due to large stock award during cost-cutting

Alphabet Inc.’s Chief Executive Officer Sundar Pichai has received a staggering pay package of $226 million in 2022, according to a filing from the parent company on Friday. This amount is an exponential increase from his prior year’s compensation of $6.3 million, which did not include the triennial stock award. The pay hike is primarily attributed to the massive stock award worth $218 million that Pichai received, which is on a three-year cycle. Pichai had received a similar package of $281 million in 2019.

Alphabet CEO Sundar Pichai's pay jumps to $226 million due to large stock award during cost-cutting

The topic of CEO compensation has been a sensitive issue in the technology industry, especially after several companies, including Alphabet, announced layoffs in the past year. Apple CEO Tim Cook faced criticism for making $100 million in each of the past two years and reduced his pay for 2023. Pichai’s compensation in 2022 surpasses that of his peers at Alphabet, with other top executives, such as Philipp Schindler, chief business officer, and Prabhakar Raghavan, senior VP of Google’s knowledge and information, receiving approximately $37 million each. CFO Ruth Porat’s compensation was $24.5 million, and their stock grants are awarded annually.

Alphabet had previously announced cost-cutting measures and layoffs, with approximately 12,000 jobs, or 6% of the global workforce, being cut in January. Pichai’s significant pay increase during this period may raise eyebrows, particularly in the context of the ongoing debate around income inequality.

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