Google chairman paid nearly $20m

Google chairman Eric Schmidt’s pay packet more than doubled to $19.3m (€14m) last year as a new compensation plan reduced the total amounts for three other top executives.

Schmidt’s pay included $11.4m in stock to correct an administrative error in the calculation and issuance of a 2011 award, according to a filing with the US Securities and Exchange Commission. Schmidt also received a $1.25m salary and a $6m bonus. Last month, Schmidt landed an equity award of $100m that will vest over four years.

Google has minted numerous millionaires and several billionaires. Co- founders Larry Page and Sergey Brin are paid $1 a year in salary, with their stakes in Google helping to boost their net worths to $31.1bn and $30.9bn respectively, according to the Bloomberg Billionaires Index.