Mark Zuckerberg Will Take A $1 Salary
Geege Schuman stashed this in FB
Stashed in: Zuck!
Steve Jobs famously took a $1 salary from the time he returned to Apple as CEO in 1998; he didn’t take any stock grants after 2003, either. In 2005, Google co-founders Larry Page and Sergey Brin, along with then-CEO Eric Schmidt, all reduced their salaries to $1. Schmidt, now executive chairman, takes a salary of several million dollars these days; Page, now CEO, and Brin still make $1.
Other tech CEOs who belong to the $1 salary club include Oracle’s Larry Ellison, Tesla’s Elon Musk, Zynga’s Mark Pincus, and H-P’s Meg Whitman. Yahoo’s Jerry Yang was making $1 before he was ousted as CEO last year. Outside of Silicon Valley, CEOs of American companies who made $1 in salary last year include Capital One’s Richard Fairbank, Urban Outfitters’s Richard Hayne, Fossil’s Kosta Kartsotis, Kinder Morgan’s Richard Kinder, and Duke Energy’s James Rogers.
Thereby proving once and for all that making an income is not nearly as tax advantageous as having ridiculously high capital gains taxed at a far lower rate.
Working for a living is for the masses. The truly rich want all their compensation in capital gains.