Sundar Pichai of Google to become the highest paid executive in the world

The CEO of Google has been issued around US$ 199 million in company stocks for the global IT company’s new parent organization called Alphabet, which makes Mr. Pichai the best-paid ‘manager’ in the US. This Indian Migrant from Chennai, Mr. Sundar Pichai is the CEO of Google and previous right-hand man to Larry Page who along with Sergey Brin are founders of Google. The share value makes the manager to be on track to becoming the most generously compensated official of any publicly traded company in a stock exchange.

This IIT Kharagpur graduate has been honoured with company Class C shares which are ‘restricted stock’ worth Rs 1,359 crores (or US$ 199 million), with 2,73,328 shares that Pichai has gotten takes his total ownership in Alphabet Inc, Google's PARENT organization, to a sweet Rs 4,415 crore. To help you connect (metaphorically of course) from an Indian perspective is around 12% of the India's Mahatma Gandhi National Rural Employment Guarantee Act’s (MNREGA) spending plan. The pay-out pronounced regarding the company in terms of the British economy today is at around UK£ 138 million, which is worth more than the £130 million Google agreed to pay the UK Treasury in back charges in 2005.

Mr Pichai's share amount will increase periodically every quarter until 2019. At the end of the day, full control over the shares will go to him on a gradual foundation. When we contrast Apple CEO Tim Cook salary, Mr. Cook pulled in US$ 376.2 million when he sat in the CEO command post at Apple. A week ago, Alphabet surpassed Apple as the world's most significant firm after it reported a benefit of US$ 4.9 billion (UK£ 3.4 billion) in the three months to the end of December, an expansion from US$ 4.7 billion a year prior. On a yearly premise, Alphabet made $16.3 billion, yet the figures demonstrated that competitor businesses lost US$3.6 billion amid the period, while Google's working pay rose to US$ 23.4 billion.

For more news updates on Global Indians from around the world, subscribe to our newsletter at y-axis.com.

Original Source:BBC