Shares of Google parent company Alphabet hit a new all-time high Thursday. The company's market value achieved $1 trillion in the process.
It’s the fourth U.S. company to hit the milestone. Optimism also comes from the company’s growth in its Cloud busines, which doubled its revenue run rate from $1 billion to $2 billion per quarter. At this time, Apple is the most valuable company in the United States, with a market value of nearly $1.4 trillion. The most valuable company on the planet, oil giant Saudi Aramco, went public last month at a valuation of $2 trillion. Alphabet also faces a number of cultural clashes including a fresh investigation by the U.S. National Labor Relations Board and various state and federal antitrust probes. Sundar Pichai, now the CEO of both Google and Alphabet , receives $2 million in salary per year, but he can earn much more, It’s said at least $150 million, if the company hits certain performance targets this year, next year and in 2022.
Alphabet has long been the biggest beneficiary of the global advertising online and marketing spending from all araound the world. The trillion-dollar companies were among the .most-profitable companies in the world last year according to Fortune. Alphabet is not an exception.