Alphabet, the parent company of Google on Friday crossed the $1bn valuation mark. With this Alphabet became the fourth tech company to cross $1trillion milestone.
Alphabet joins Apple, Microsoft, and Amazon in the exclusive club. Amazon passed the $1trillion mark in September 2018 but its current value is estimated at $931bn. Apple was the first company to hit the market cap milestone in 2018.
Other than these tech-giants, petroleum and natural gas company Saudi Aramco, which went public last month is also a part of the $1trillion club.
A lot of Alphabet’s achievements can be accredited to the newly appointed CEO Sundar Pichai. Founder of Alphabet Larry Page in a surprise move stepped down from his CEO post making way for Pichai. Investors since then have been heavily relying on Pichai’s skills.
Investors like the fact that much of Pichai’s compensation depends on the company’s performance. According to an SEC filing, Pichai receives about $2mn in salary annually but he’s entitled to earn more than $150mn if the company hits its performance target.
With Alphabet hitting the milestone, investment analysts predict that Mark Zukerberg founded Facebook will be the next company to enter the prestigious club. Facebook is currently being valued at $620 billion.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.