Google CEO Sundar Pichai gets massive hike in pay package

Google co-founders Larry Page and Sergey Brin, once again drew salaries of only one dollar.

Google's India-born CEO Sundar Pichai received a stock award of $198.7 million in 2016, almost double his 2015 stock award of $99.8 million, a media report said. That brought his total compensation in 2016 to $199.7 million, almost twice the $100.6 million he earned in 2015. Pichai received a salary of $650,000 in 2016, slightly less than the $652,500 he earned in 2015, CNBC reported on Friday.

Pichai's massive pay package came even as his two bosses and Google co-founders Larry Page and Sergey Brin, once again drew salaries of only one dollar for their roles as CEO and President, respectively, of parent company Alphabet. But Page and Brin are each worth more than $40 billion through their stock holdings.

According to the report, Pichai's raise came during a year when Google's sales rose 22.5 per cent and net income rose 19 per cent as it maintained its position as the top seller of internet advertising. Google's parent company, Alphabet saw a surge in revenues riding on Google's dominance in internet advertising.

Apart from the digital advertising business, which is increasingly focusing on smartphones, the other sources of revenue for Google include its Pixel line of smartphones, digital sales on the Play store, and its cloud services business. Some of the other businesses of Alphabet include Nest, Verily, Fiber, DeepMind and Waymo.

With Inputs from IANS

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