Google’s Eric Schmidt Gets Huge Pay Day, $100M in Stock and Cash for GOOG Shares Performance
If you could switch financial situations with anyone in the world today, former Google chief and current executive chairman of the search giant Eric Schmidt wouldn't be a bad candidate. The guy has a net worth north of $10 billion (with a "B"), and just in case he needs a little extra dough for a rainy day, Schmidt just received a compensation package of more $100 million in Google stock.
That's his equity award for Google's outstanding performance in 2013, which was capped off by $16.9 billion in sales in the fourth quarter alone (up 17 percent compared to the same quarter in 2012). Schimdt's equity award will vest over four years beginning May 2015, according to Google's regulatory filing. In addition, he'll receive a $6 million cash bonus sometime later this month -- after all, the man has to eat while his stock is vesting.
Schmidt joined Google's board of directors as chairman in March 2011 and was named CEO five months later in August. He would remain as chief until stepping down on January 20, 2011, at which time he also received a $100 million bonus. He continued to serve as executive chairman of Google.
Google's stock price rose 58 percent in 2013 while its revenue jumped 19 percent. It's currently trading at over $1,130 per share, versus around $735 per share at the beginning of last year.
That's his equity award for Google's outstanding performance in 2013, which was capped off by $16.9 billion in sales in the fourth quarter alone (up 17 percent compared to the same quarter in 2012). Schimdt's equity award will vest over four years beginning May 2015, according to Google's regulatory filing. In addition, he'll receive a $6 million cash bonus sometime later this month -- after all, the man has to eat while his stock is vesting.
Schmidt joined Google's board of directors as chairman in March 2011 and was named CEO five months later in August. He would remain as chief until stepping down on January 20, 2011, at which time he also received a $100 million bonus. He continued to serve as executive chairman of Google.
Google's stock price rose 58 percent in 2013 while its revenue jumped 19 percent. It's currently trading at over $1,130 per share, versus around $735 per share at the beginning of last year.
