IndiaTV RSS Feeds
September 23, 2014
0
Email

Mark Zuckerberg's symbolic new salary: $1

India TV Tech [ Updated 28 Apr 2013, 08:26:33 ]
Mark Zuckerberg's symbolic new salary: $1
FONT SIZE

New Delhi, April 28: Mark Zuckerberg has joined another exclusive $1 salary club. A Facebook filing said Zuckerberg will make that amount this year and forgo any bonuses.



However, his real pay or gains comes in form of stock options. Zuckerberg reaped a gain of nearly $2.3 billion last year when he exercised 60 million stock options just before the online social networking leader's initial public offering

The $1 salary is symbolic and getting paid $1 has become something of a tradition among extremely wealthy executives whose compensation instead comes in the form of stock.

Steve Jobs famously took a $1 salary from the time he returned to Apple as CEO in 1998. In 2005, Google co-founders Larry Page and Sergey Brin, along with then-CEO Eric Schmidt, all reduced their salaries to $1.
 
Other tech CEOs who had joined the $1 club include Oracle’s Larry Ellison, Tesla’s Elon Musk, Zynga’s Mark Pincus, and H-P’s Meg Whitman. Similarly, 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.

India Tv Mobile Wesbite
TODAY'S BEST VIDEO
Superfast 200 | September 22, 2014

Watch 200 news stories at breakneck speed on India TV...

Ankhein Kholo India | September 22, 2014 - India ..

Watch India TV's Ankhein Kholo India for the very...

ALSO READ
X
Google abandons Google+ sign-up requirement for new Google accounts
New Delhi: Google is no longer asking users to sign-up for a Google+ account...
Read More >>