« The 5 Lessons a Millionaire Taught Me | Main | Robert Rubin on U.S. Policy »
Wow! I’m Going to Make More Than the Top Three Google Execs This Year
By JLP | January 24, 2006
I’m sure you guys have probably seen this but the top three executives at Google (Eric Schmidt, Larry Page, and Sergey Brin will each make $1 this year. Of course, they are all far from broke so this little stunt is more for publicity than anything else. Still, it is kind of cool in an age when it seems like boards are paying CEOs as much as they possibly can.
I just hope for Google’s sake that they aren’t getting what they pay for.
Topics: Miscellaneous | 4 Comments »
January 24th, 2006 at 12:43 am
They make enough money with their stock options, a “$1 salary” is more of a marketing stunt than anything else. But still, it’s not a bad thing. They announced last year’s paycut in April.
January 24th, 2006 at 7:27 am
Steve Jobs of Apple has been doing this for awhile. I agree, it’s little more than a publicity stunt, but it’s kind of cool all the same.
January 25th, 2006 at 8:13 am
I have to agree with Flexo, it is certainly a marketing stunt. They are getting great compensation through stocks. Actually, they are probably making more than they could get away with via a large salary. Plus, it is really advantageous for tax purposes to have all your income come from capital gains, rather than earned income (especially with the scratch they are pulling down).
January 25th, 2006 at 9:07 am
This actually forced me into doing some research about stock options, and I have written about them in context of executive salaries and compensation. The Real Story About $1 CEO Salaries.