Alphabet Inc. CEO Sundar Pichai’s pay package soars to $226 million in 2022, boosted by a three-year stock grant, making him one of the world’s best-paid corporate leaders .
The stock-based portion of his compensation totaled $218 million, according to a filing Friday by Google’s parent company. He received a total of $6.3 million in compensation in 2021, when he received no grants, and his salary has been steady at $2 million for the past three years.
The 50-year-old CEO has been navigating a more competitive industry where artificial intelligence offerings such as startup OpenAI’s chatbot ChatGPT threaten to dent Google’s dominance in search.
A broader technology slowdown is also taking its toll on the company, with its shares down 39% in 2022. However, they stage a comeback in 2023, up 19%.
Pichai’s stock award is for three years, and he received a similarly sized award in 2019. That year, the executive received $281 million in awards.
CEO pay has become a particularly sensitive topic in the tech industry, especially after a wave of layoffs at Alphabet and other big companies. Apple CEO Tim Cook has slashed his 2023 pay after drawing outrage over making $100 million a year for the past two years.
In 2022, Pichai’s treatment is much higher than that of other Alphabet executives.
Prabhakar Raghavan, Google’s senior vice president of knowledge and information, and Philipp Schindler, Google’s chief business officer, each earn about $37 million.
Chief Financial Officer Ruth Porat was paid $24.5 million. Their stock grants are issued annually.
In January, Alphabet began cutting about 12,000 jobs, or 6% of its global workforce, after months of other steps to reduce spending and set new priorities.
The median total compensation for Alphabet employees in 2022 is $279,802, according to filings. Pichai was awarded 808 times that amount.
As part of the compensation package, Alphabet paid $5.94 million for Pichai’s personal safety, filings show.