(Original Title: Alphabet ’s New Boss Means $ 2 Billion for Departing Founders)

Netease Technology News on December 5, according to foreign media reports, following the announcement of Google founders Larry Page and Sergey Brin both resigned, Alphabet's stock price in the New York stock market rose 1.9%, increasing their personal net worth by more than $ 1 billion.

They each hold about 6% of Google's shares and control Alphabet through special voting rights.

The rise in Google's stock price suggests investors welcome Sundar Pichai's promotion to Alphabet's CEO. This means that the three most valuable US technology companies are no longer at the helm of their founders.

Like Apple's Tim Cook and Microsoft's Satya Nadella, Pichai has been a long-time deputy, moving steadily on the road to company promotion for 15 years.

This shift also reflects that Google has entered the middle age of corporate development. In 1998, Brin and Page founded Google in a garage in California. The company had revenues of $ 137 billion in 2018 and today has a market value of $ 893 billion. It is second only to Apple and Microsoft in the S & P 500.

At present, many Silicon Valley giants are not at the helm of their founders. Larry Ellison's Oracle Corp. is led by Safra Catz, but Ellison remains chairman. Some younger companies, such as Uber and We Co., have switched to outsider management during the turmoil.

There are some obvious exceptions. Jeff Bezos and Mark Zuckerberg remain in charge of Amazon and Facebook respectively. Based on market capitalization, these two companies are the fourth and fifth largest companies in the United States, respectively.

It turns out that bringing in external managers is a good thing for Apple and Microsoft. Since Cook took the helm at Apple in August 2011, Apple shares have risen more than 400%. Under Nadella's leadership, Microsoft's stock price has quadrupled.

Since 2015, Pichai has been CEO of Google. During that time, Alphabet's stock price doubled.

Unusual location

The success of the three CEOs has also placed them among the richest group of corporate executives in the United States. Because of the stock awards they receive, everyone is worth billions of dollars.

Pichai, 47, is in an unusual executive position. Documents show that unlike Cook and Nadella, almost all of Pichai's stock awards have been cashed.

In contrast, according to a recent document, Cook, now 59, will still hold up to 1.8 million restricted shares by August 2021, worth about $ 500 million. Nadella, 52, will receive up to 1.8 million long-term performance stock awards, currently worth about $ 275 million.

The Alphabet board may take action to correct this discrepancy. But no matter how they decide to compensate Pichai, he will still lag far behind the wealth accumulated by Brin and Page. According to the Bloomberg Billionaires Index, the net worth of the two Google founders adds up to about $ 126 billion. (Chen Chen)

Source: Netease Technology Report, translated by Google Translate

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