This Big Tech CEO Just Became a Billionaire for the First Time
Google CEO Sundar Pichai has officially hit billionaire status, a rare achievement for a non-founding CEO.
Key Takeaways
- Google and Alphabet CEO Sundar Pichai now has a net worth of $1.1 billion.
- Alphabet reported 鈥渁 standout quarter鈥 earlier this week, according to Pichai.
- Pichai joined Google in 2004, rising through the ranks to become CEO of the company in 2015 and CEO of Google鈥檚 parent company, Alphabet, in 2019.
Google CEO Sundar Pichai, 53, who has been at the helm of the tech giant for , is now officially a billionaire. According to the , Pichai is now worth $1.1 billion, a rare achievement for a non-founding CEO.
Pichai’s rise in net worth is due to the growth of Google’s parent company, Alphabet, which has added more than $1 trillion in market value and returned 120% to investors since the beginning of 2023, per .
Bloomberg notes that Pichai’s billionaire status is a rare occurrence in an industry where CEOs like Nvidia’s Jensen Huang and Meta’s Mark Zuckerberg owe their billionaire status to founding equity stakes in their tech companies.
Pichai wasn’t a founding member of Google when it . He instead joined the company as a new hire in 2004 after from Stanford University with a Master’s degree in Materials Science and Engineering in 1995, from the University of Pennsylvania’s Wharton School of Business in 2002, and briefly working for consulting firm McKinsey. His at Google was as the head of product management and development.
Pichai spent over a decade rising through the ranks at Google, overseeing the growth of products like Google Chrome. He became in August 2015 and the CEO of Alphabet in December 2019.
Pichai has a 0.02% stake in Alphabet that is worth about $440 million, with the rest of his fortune in cash, per Bloomberg. Over the past decade, he has sold more than $650 million worth of Alphabet stock.
Alphabet’s on Wednesday underscored the company’s growth. The earnings, for the second quarter ending June 30, , with the company’s net income rising to $28.2 billion, a nearly 20% increase from the same time last year.
The report also showed that Alphabet generated $96.43 billion in revenue for the second quarter of the year, a 14% year-over-year growth. Revenue was higher than the .
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“We had a standout quarter, with robust growth across the company,” Pichai . He added that Alphabet was increasing its AI spending from due to “strong and growing demand” for its Cloud products.
Alphabet stock was up this year. The company is the in the world, with a market value of $2.34 trillion.
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Key Takeaways
- Google and Alphabet CEO Sundar Pichai now has a net worth of $1.1 billion.
- Alphabet reported 鈥渁 standout quarter鈥 earlier this week, according to Pichai.
- Pichai joined Google in 2004, rising through the ranks to become CEO of the company in 2015 and CEO of Google鈥檚 parent company, Alphabet, in 2019.
Google CEO Sundar Pichai, 53, who has been at the helm of the tech giant for , is now officially a billionaire. According to the , Pichai is now worth $1.1 billion, a rare achievement for a non-founding CEO.
Pichai’s rise in net worth is due to the growth of Google’s parent company, Alphabet, which has added more than $1 trillion in market value and returned 120% to investors since the beginning of 2023, per .
