Remember David Drummond? He’s worked for Google and its parent company, Alphabet, since 2002, making him one of the most senior employees, as well as one of the highest-paid. He received $47 million in compensation last year. His salary is $650,000 and he received $46.6 million in equity. Drummond has been awarded about $190 million in stock options since 2011. He was the highest-paid executive at Google/Alphabet in 2018, behind only CFO Ruth Porat, who made roughly $100,000 more than Drummond.
He also made news when former Google employee Jennifer Blakely took to the website Medium to post an essay about her affair with him. Blakely previously worked with Drummond in Google’s legal department. Her essay details an affair that started in 2004, her pregnancy, the 2007 birth of their son, their co-habitation and her eventual abandonment by Drummond so that he could take up affairs with his assistant and another woman in the legal department. Blakely was asked to leave the company. Years of legal wrangling led to Drummond begrudgingly agreeing to provide child support. Yeah, he’s a charmer, this one. Oh, and he recently married another Google employee.
Drummond is also pretty well known for his tendency to sell off his Google stock. He’s been at it for a decade, but this year he’s sold more than in any other year. Bloomberg revealed that in the weeks before co-founder Larry Page’s exit from the CEO’s office, Drummond sold about $145 million in stock. Hmmm. That seems like insider trading.
In early November, Drummond sold $72 million of stock. On December 2, he sold $73 million more, according to regulatory filings. The December 2 sale was just a day before Google parent company Alphabet announced that Larry Page was stepping down as CEO and Sundar Pichai was taking over and becoming Drummond’s boss.
Drummond has sold almost twice as much stock this year as he did in 2018. Over the past decade, he’s unloaded nearly half a billion in Google stock. Here’s a year by year breakdown:
2009 – $9.8 million
2010 – $18.9 million
2011 – $11.2 million
2012 – $24.5 million
2013 – $19.6 million
2014 – $30.8 million
2014 – $40.3 million
2016 – $52.3 million
2017 – $47.2 million
2018 – $75.2 million
2019 – $72 million in early November
2019 – $73 million December 2 – days before the announcement about Larry Page and Sergey Brin exiting the company.
Drummond was Google’s first lawyer. He ran the company’s legal and corporate development departments for years before moving over to Alphabet in 2015. Sales of stock by insiders are watched closely by investors as a way of gauging management’s confidence in the business.
Drummond’s most recent stock sales were made under a pre-arranged stock trading plan. This year he’s sold around 120,000 shares worth roughly $157 million.
Source: Celebrity Net Worth