Alphabet CEO Sundar Pichai stands to receive a $692 million payout over the next three years, contingent upon the performance of two “moonshot” ventures that are currently losing money.
On March 4, Alphabet granted Pichai a potential $692 million compensation package for the upcoming three-year cycle, which could place him among the tech sector’s highest earners. According to a March 6 SEC filing, roughly 50% of this pay is linked to the growth of Waymo, a robotaxi service, and Wing, a drone delivery business—both of which are currently operating at a loss.
Pichai’s earnings could include up to $260 million from Waymo and $90 million from Wing, based on the per-unit valuation growth of these entities over three years. This structure highlights Alphabet’s dedication to the success of these ambitious projects.
Alphabet’s 2025 SEC annual report indicates that neither venture is profitable. While the company doesn’t break down individual profits for its “Other Bets” division, the group collectively lost $7.5 billion in 2025, including a $2.1 billion charge at Waymo related to employee compensation valuations.
The March filing stated that the Waymo and Wing unit grants align with Alphabet’s strategy of investing in emerging technologies and recognize Pichai’s leadership in managing Other Bets. The company noted that both subsidiaries are addressing significant hurdles in autonomous transport and delivery and have shown promise under Pichai’s guidance.
Since its inception 17 years ago, Waymo has evolved into a leading robotaxi provider, currently active in 10 U.S. cities. Following a $16 billion funding round in February—primarily funded by Alphabet—Waymo’s valuation reached $126 billion. The company intends to use these funds to expand into over 20 additional markets, including international locations like Tokyo and London.
However, Pichai must navigate various obstacles. Recently, a Waymo vehicle obstructed an ambulance in Austin during an emergency. Additionally, New York Governor Kathy Hochul recently withdrew a plan for Waymo’s expansion outside New York City following pushback from taxi drivers and labor organizations.
Wing, established in 2012 within Alphabet’s research lab, provides drone-based delivery in the U.S., Australia, and Europe. It became a standalone subsidiary in 2018 and has collaborated with Walmart since 2023, with plans to reach over 270 Walmart locations by 2027.
The filing also detailed that Pichai could receive up to $252 million in performance stock units, tied to Alphabet’s shareholder returns compared to the S&P 100. Furthermore, he is eligible for $84 million in restricted stock units, matching his previous award.
With his annual base salary remaining at $2 million since 2020, this new package represents a 34,500% increase in total potential pay. The CEO does not receive any bonuses, per the SEC documents.