larry and sergey take $1 salary

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larry and sergey take $1 salary

nealrodriguez

8:38 pm on Mar 25, 2009 (gmt 0)

Top Google execs: $1 salary, no bonus, no options [news.cnet.com]

Google has offered co-founders Larry Page and Sergey Brin and Chief Executive Eric Schmidt "market-competitive" salaries every year since 2005, but once again in 2008, the three turned it down, according to a company regulatory filing Tuesday. "Due to their own preferences not to receive salary compensation, Eric, Larry, and Sergey each rejected these offers and continue to receive base salaries of $1," the company said.

LifeinAsia

9:06 pm on Mar 25, 2009 (gmt 0)

These days, I thought $1/year WAS "market-competitive."

Receptional Andy

10:15 pm on Mar 25, 2009 (gmt 0)

I doff my cap to Google's PR department ;)

JoeS

5:59 pm on Apr 2, 2009 (gmt 0)

I love billionaires who take a salary of $1.

nealrodriguez

9:05 pm on Apr 15, 2009 (gmt 0)

why don't they just go all out and take a penny. i'd take one of those 1930 something penny's they were talking about 10 yrs back that were worth $50k; with stock options of course.

Slinger

10:12 pm on Apr 17, 2009 (gmt 0)

Well I for one am just sick of these over-paid executives still receiving a salary. Do you know how many people $1 will feed in a poor country where people are starving. And for what?...so you 3 exec's can add a $1 total to your savings account. Enough is enough. Your rich allready. Give your $1 to someone who needs it. You 3 disgust me! Taking a salary! Hum-bug!

( lol )

willybfriendly

10:38 pm on Apr 17, 2009 (gmt 0)

Let's see...

Income Taxes on $1 = 0. No payroll or self employment taxes, no medicare/medicaide taxes.

All their other income will be taxed as capital gains - probably at 15% (roughly 1/3rd of what a salary would be taxed).

The largesse of these billionaires is pretty underwhelming to me. The creativity of their accountants rocks.

skibum

8:03 pm on Apr 30, 2009 (gmt 0)

So Google, aka the top-3 guys offer themselves market competitive salaries each year and then they decline the salaries they offer themselves and tell themselves they will only take $1.00 each and then spin press about it? Probably spent more than the salaries to tell everyone about this non-event.

The repricing of all the existing stock options cost shareholders a lot more than these three salaries would have.

londrum

8:07 pm on Apr 30, 2009 (gmt 0)

maybe they messed up and the board decided to give them a pay cut, and that is what they are actually earning now.
they are probably working in the post room licking stamps

Leosghost

9:44 pm on Apr 30, 2009 (gmt 0)

they are probably working in the post room licking stamps

The image which your comment instantly brought to my mind was of Larry and Sergey each as the guy in MIB 2 ( the one under the counter with the cigarette and the eyes ) ..the power behind the google machine if you will..

And as I was eating very late supper when I read it - now I have changed keyboards ..wiped down my tee-shirt ..and blown my nose ( which is still stinging as I type this ) ..thanks for the laugh :) ..happy labour day ..( I think thats what it is where most of WebmasterWorld members are )..remember whatever it looks like "up top" ..is the result of some poor schmucks out of sight ..workin like crazy ..even if it's just coding pages and watching over servers :)..

And without the latter ..in DC's everywhere ..we would all be @*��$$ ..

I raise my glass ..to the folks who work in the DC's ..everywhere ..

Sant� les gars ..and thanks ..

JS_Harris

4:49 am on May 1, 2009 (gmt 0)

Sounds great but doesn't that just mean they are getting paid from tax breaks, ie:paying less tax and so we cheer while they make a little bigger impact on the government coffers than if they'd have just taken the salary?

I don't suppose many of use need to worry about it, only Brett has a billion kicking around in his bank i'm sure.