Google Inc. will pay its new Chief Financial Officer Ruth Porat more than $70 million starting this May, making her one of the highest-paid CFOs in hi-tech, Bloomberg reported.
Porat will get a $5 million one-time signing bonus and a $25 million stock grant this year, vesting by 2017, according to Google’s regulatory filing Thursday. She will also get a $40 million biennial stock grant in 2016, vesting by 2019, on top of a base annual salary of $650, 000.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Forbes noted that Porat’s pay package explains why so many top Wall Street executives are moving to Silicon Valley. Turns out it’s not Wall Street’s image problems and the over-regulation of the post-financial crisis years. It’s money. Porat’s pay at Morgan Stanley has been between $8 and $11.7 million a year, which is a lot less than the $30-to-$40 million she’ll make at Google.
Porat’s father, Dan, was born in 1922 in the Ukraine, move to Vienna and made it to British-ruled Palestine-Eretz Israel in 1938, where he lived on a kibbutz. Her mother, Frieda, was born in Palestine-EI. She and Dan married in 1946, and in 1954 moved to England, where Ruth was born. When Ruth was 2, the family moved to Boston.
Porat is a graduate of Stanford University, and holds master’s degrees from The London School of Economics and The Wharton School of the University of Pennsylvania. She is a member of the Borrowing Advisory Committee of the United States Treasury, the Board of Trustees of Stanford University, the Board of Directors of The Council on Foreign Relations, the Board of Trustees of the Economic Club of New York, the Bretton Woods Committee, and the Advisory Council of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution.
Ruth Porat has been married to Anthony Paduano, partner in the law firm of Paduano & Weintraub, since 1983. She is a breast cancer survivor.
And she has tons of money.
