Google just awarded Sundar Pichai a $692 million salary package

Sundar Pichai’s new pay package could be worth up to $692 million. According to a filing first spied by the Financial Times, Alphabet has structured a three-year deal for its Google CEO that could make him one of the highest-paid CEOs on the planet — but most of it is tied to performance, including new stock incentives tied to Waymo and Wing, its drone delivery venture.

What is striking is how little public fascination Pichai attracts compared to the Google founders. Larry Page and Sergey Brin – the second and fourth richest people in the world – have been in the news recently for a very different reason; Both have purchased luxury properties in Miami, which is widely seen as a reaction to California’s proposed billionaire tax law — a ballot initiative that targets the state’s nearly 200 billionaires with a one-time 5% tax on net worths exceeding $1 billion. Page reportedly spent more than $173 million on two mansions in Coconut Grove, Florida recently, while Bryn was just linked to a $51 million mega mansion 14 miles away, on top of two previous purchases worth a total of $92 million.

By contrast, Pichai remains quietly rooted in Los Altos, California, as far as the public knows. He’s a billionaire, too — the nearly seven-fold growth in Google’s market capitalization since he took over in 2015 has made the stock he’s amassed along the way very valuable. He and his wife currently own shares worth nearly $500 million, with an estimated $650 million more sold as of last summer, according to Bloomberg calculations.