Google and Alphabet CEO Sundar Pichai could be getting a $692 million payday in the next three years, but that depends on the success of two moonshot companies that are operating at a loss.
On March 4, Alphabet awarded Pichai a prospective $692 million compensation package over the next three years, potentially making him one of the most highly-paid tech leaders in the industry. However, according to an SEC filing posted on March 6, about half of Pichai’s compensation is tied to the success of Alphabet’s robotaxi service Waymo and drone delivery service Wing, two companies which so far, are costing Alphabet to operate.
Pichai could earn up to $260 million from Waymo and $90 million from Wing, depending on each company’s’ per-unit value increases over the three-year period. The move emphasizes Alphabet’s commitment to the success of these two moonshot projects.
Neither company appears to be profitable, according to Alphabet’s 2025 annual report to the SEC. While Alphabet does not report the individual profitability of its “Other Bets”—the company’s internal term for all non-Google businesses—together, its non-Google companies lost $7.5 billion in 2025. Part of it included a $2.1 billion valuation-based, employee compensation charge at Waymo.
“The grant of Waymo and Wing BPUs further supports Alphabet’s long-standing goal of investing in new technologies and reflects Mr. Pichai’s critical role as Alphabet CEO in overseeing its Other Bets,” the company wrote in the March filing. “Waymo and Wing are tackling enormous challenges in autonomous driving and delivery, have made strong progress under Mr. Pichai’s supervision, and show strong potential.”
Since Google founded Waymo 17 years ago, the company has become the preeminent robotaxi service that now operates in 10 U.S. cities and counting. In February, Waymo raised $16 billion—most of which came from parent company Alphabet—pushing its valuation to $126 billion. The company, which currently operates robotaxis in cities across California, Arizona, Georgia, Texas, and Florida, said it plans to use the funds to expand into more than 20 new cities, including overseas to London and Tokyo.
Pichai faces an uphill battle as the company faces both technological and operational challenges. Last week, a Waymo car was recorded blocking an ambulance responding to a deadly shooting in Austin. In February, New York Gov. Kathy Hochul dropped a proposal for Waymo to operate outside of New York City after opposition from labor groups and taxi drivers.
Similarly, Wing was founded in Alphabet’s Moonshot Factory in 2012 and provides last-mile drone delivery services in the U.S., Europe, and Australia. The company became an independent Alphabet subsidiary in 2018, and since 2023, it has partnered with Walmart to deliver products from stores to customers, and recently announced that it would expand to more than 270 Walmart stores by 2027.
Pichai will also be awarded performance stock units worth up to $252 million, depending on Alphabet’s shareholder return relative to S&P 100 companies, according to the filing. He could also earn up to $84 million in Alphabet restricted stock units, the same amount as his previous equity cycle award.
Pichai’s annual base salary will remain at $2 million, which has not changed since 2020, meaning the new compensation package represents a whopping 34,500% increase in compensation. The CEO is not eligible for bonuses, according to the filing.
