Technology giant Google has significantly increased the potential compensation of its Indian-origin CEO Sundar Pichai, raising it to $692 million (around ₹6,361 crore) over the next three years. The revised package places Pichai among the highest-paid corporate executives globally.

A large portion of the compensation will come through performance-based stock incentives. According to details shared by Google with the Financial Times, Pichai will receive performance stock units (PSUs) with a target value of $126 million. These awards will be issued in two equal tranches and their final payout will depend on Alphabet’s performance for shareholders.

The PSUs will be evaluated by comparing Alphabet’s total shareholder return with other companies in the S&P 100. If Alphabet significantly outperforms its peers, the payout could reach up to $252 million. However, if the company underperforms, the payout could drop to zero.

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Stock incentives tied to Waymo and Wing

In addition to the PSUs, Pichai will receive $84 million in restricted stock over the next three years. These shares will vest gradually each month as long as he continues to serve as the company’s CEO. His annual salary will remain $2 million.

Google has also introduced two new stock incentives worth up to $350 million, linked to the growth of its self-driving taxi division Waymo and drone delivery startup Wing. Under this plan, Pichai will receive shares in Waymo valued at $130 million and shares in Wing Aviation worth $45 million, based on their fair value over the next three years.

If these businesses meet or exceed their performance targets, the payout could reach up to 200% of the target value.

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Sundar Pichai became CEO of Google in August 2015. Since then, Alphabet’s market capitalisation has grown nearly seven times, rising from $535 billion to about $3.6 trillion and briefly crossing $4 trillion earlier this year.

This growth has also increased Pichai’s personal wealth. The 53-year-old former McKinsey consultant now has an estimated net worth of $1.5 billion, according to Forbes.

Regulatory filings show that Pichai and his wife Anjali jointly own around 1.67 million Google shares, valued at approximately $498 million based on the company’s recent closing price of $298 per share.