Google paying bonuses totaling $15M to 4 top execs (Update)

Mar 12, 2013

Google is paying nearly $15 million in bonuses to four of the Internet search company's top executives for their performances last year.

Documents filed Tuesday disclosed Executive Chairman Eric Schmidt will get the biggest award at $6 million to supplement his estimated fortune of $8 billion.

Schmidt served as Google Inc.'s CEO for a decade until he turned over the job to company co-founder Larry Page nearly two years ago. Most of Schmidt's wealth is tied up in Google's stock. To diversify his portfolio during the next year, Schmidt is planning to sell up to 3.2 million Google shares currently worth $2.6 billion.

Neither Page nor fellow co-founder Sergey Brin will get a bonus for their work. They have usually settled for a $1 salary since Google went public in 2004. It's a sacrifice that the duo can afford to make, given that Page and Brin are each worth $23 billion.

Google is also paying a $3.3 million bonus to its top lawyer, David Drummond. Patrick Pichette, Google's chief financial officer, and Nikesh Arora, the company's chief business officer, are each getting bonuses of $2.8 million.

The company, which is based in Mountain View, California, is coming off a solid performance last year that saw Google's earnings and profits each climb by 10 percent.

Explore further: Court won't restore Oracle's $1.3B verdict vs. SAP

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Google rewards top executives

Mar 12, 2011

Google has awarded nearly $9 million in bonuses and another $50 million in equity to four top executives of the Internet giant, according to a filing with the US Securities and Exchange Commission.

Google execs collect bonuses

Mar 03, 2009

Bonus may be a dirty word on Wall Street right now, but end-of-year cash is still being handed out in Silicon Valley.

Former Google CEO made $313,219 in 2010

Apr 20, 2011

(AP) -- Billionaire Eric Schmidt feels more comfortable taking a million dollar paycheck as Google Inc.'s former CEO than he did when he was running the Internet's most powerful company.

Google awards $100 million to Eric Schmidt

Jan 24, 2011

(AP) -- Google Inc. says it has awarded $100 million worth of equity to Eric Schmidt, who is stepping aside as CEO but will stay with the company as executive chairman.

Recommended for you

Chinese e-commerce rivals challenge Alibaba (Update)

20 hours ago

China's biggest property developer, Wanda Group, and Internet giants Baidu and Tencent unveiled a new e-commerce venture Friday in a challenge to industry leader Alibaba Group ahead of its U.S. stock offering.

Nigeria launches national identity card scheme

Aug 28, 2014

Nigeria's President Goodluck Jonathan on Thursday launched a national electronic identity card scheme, which backers said would boost access to financial and government services in Africa's most populous nation.

User comments : 0