New York, April 29, 2017: 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.
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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. (IANS)
Google plans to invest more than $13 billion this year on new and expanded data centers and offices across the U.S.
CEO Sundar Pichai announced the news in a blog post Wednesday , emphasizing the company’s growth outside its Mountain View, California, home and across the Midwest and South.
“2019 marks the second year in a row we’ll be growing faster outside of the (San Francisco) Bay Area than in it,” he wrote.
Google will build new data centers in Nevada, Texas, Oklahoma, Nebraska, Ohio, South Carolina and Virginia. Pichai estimated the construction of the new centers will employ 10,000 workers.
It makes good political sense for Google to highlight its expansions outside coastal cities, said CFRA Research analyst Scott Kessler.
U.S. legislators have paid increasing attention to Google and other big tech companies in the past year, and are considering passing privacy laws to regulate the companies’ reach. Investing more widely across the U.S. could help it curry favor with federal politicians and officials, he said.
Google is focused on expanding its cloud-computing business, a market where it faces stiff competition from larger rivals Amazon and Microsoft.
The company will have a physical presence in 24 states by the end of the year. It currently has locations in 21 states, and is expanding into Nevada, Ohio and Nebraska.
Its expansion is likely also a way to attract new employees, Kessler said. Google will add an office in Georgia, and expand its offices in several cities including in Seattle and Chicago.
Google said it spent more than $9 billion on similar expansions across the country last year.