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: Comcast now has nearly as many Internet as cable customers

0 shares

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

Comcast now has more Internet than cable customers

11 hours ago

Just before its $45 billion deal with Time Warner Cable collapsed over regulators' fears about a giant cable company's control over the Web, Comcast was racking up more Internet customers.

Google embeds engineers as professors

May 03, 2015

Howard University freshman Alanna Walton knew something was different about the professor teaching her introduction to computer science course.

Uber office raided in southern China: report

May 01, 2015

Taxi app Uber's office in the southern city of Guangzhou has been raided by authorities, a report said Friday, in an apparent crackdown on the Internet ride-sharing service.

Prime minister wants Japan to learn from Silicon Valley

May 01, 2015

Japan Prime Minister Shinzo Abe gave California's governor a hint of what it would be like inside a Japanese-made bullet train Thursday, displaying a train simulator for Gov. Jerry Brown during a meeting ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.