Alphabet’s securities filing on Friday, April 21, disclosed that in 2022, CEO Sundar Pichai received a total of $226 million, with most of the sum coming from stock awards.
Pichai received $218 million in capital through a three-year equity grant last year. According to the filing, his annual salary was $2 million from 2020 to 2022. The CEO’s compensation package included nearly $6 million in personal security in 2022.
According to the filing, other CEOs at Alphabet and Google earned about $22 million to $35 million in annual stock awards.
The report became public as Alphabet began implementing cost-cutting measures, including the mass layoff of 12,000 workers (six percent of their staff) in January.
Google’s chief financial officer, Ruth Porat, announced earlier in April that the company would reduce the use of laptops and services for employees to reduce costs further.
Alphabet lost $100 billion in market value after its new chatbot shared incorrect information in a promotional video. Many believe the tech giant is losing the market game to Microsoft.
Shares of Alphabet lost nine percent in regular trading, with trading volume nearly three times its 50-day moving average. At the close of trading, the stock exchanges managed to recover their losses, so the value of these shares was almost unchanged.
During the last year, the technology giant’s shares lost 40 percent of their value, but since the beginning of 2023, excluding the recent loss, they have recorded a growth of 15 percent, writes Reuters.
A Google ad for the Bard chatbot has appeared, in which there was an error regarding the information about which satellite was the first to take pictures of planets outside the solar system.
After OpenAI, a startup in which Microsoft is investing $10 billion, unveiled conversation-generating software in November that grabbed consumer attention and became a focal point in Silicon Valley, Google found itself in a sticky situation.
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