Google's parent company Alphabet reaches $1 trillion valuation, joins Apple and Microsoft

Tech giant Google's parent company Alphabet on January 16 saw its valuation reach the $1 trillion mark for the first time, making it the fourth American tech company to reach the milestone. According to reports, Alphabet's shares increased 0.76 per cent for that particular day at the close of the trade. The company joined the likes of Apple, which first reached the $1 trillion mark in the year 2018 and Microsoft which has a valuation of $1.26 trillion. Amazon also breached the $1 trillion mark in 2018 but slipped to a valuation of around $930 billion.

Alphabet formed as a holding company in 2015

According to reports, Alphabet formed as a holding company in the year 2015 and already has a number of units working on different projects such as verily devoted to the study of life sciences and Waymo for autonomous cars. Alphabet announced in 2019 that Google CEO Sundar Pichai will be taking over as their CEO as well after co-founders Larry Page and Sergey Brin decided to step down from daily operations of the company. Sundar Pichai went on to thank Brin and Page for their vote of confidence as he prepared to take charge of Alphabet Inc.

In a tweet, Pichai said he was excited about the Google parent company's "long-term focus on tackling big challenges through technology" and praised Larry Page and Sergey Brin for having provided a strong foundation.

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Sundar Pichai to receive $2 million salary

According to reports, it was said that Alphabet Inc.'s new chief executive officer (CEO) Sundar Pichai would get an annual salary of $2 million starting from January 1, 2020, along with a stock package worth over $200 million. Alphabet, in a filing to the Securities Exchange Commission (SEC), reportedly declared that Pichai would get an annual salary of $2 million from 2020. According to a regulatory filing, the expanded role of Pichai as Alphabet and Google CEO was rewarded with the revised package.

The stock package comprised of time-based stock units of $120 million and performance-based stock units of $90 million. According to reports, one-twelfth of the time-based stock units would vest on March 25, 2020, with every one-twelfth vesting each quarter to follow. The $90 million performance-based stock unit would be divided equally into two parts with a vesting period ending by the end of 2022 and with a dependency on the Alphabet's shareholder returns compared to the S&P 100.

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