
There are only a few executives in the $1 salary club. No, that isn’t a typo. I mean $1.00, as in one, single dollar per year salary.
The three at the top of Google, Larry Page, Sergey Brin, and C.E.O. Eric Schmidt have affirmed their cachet in corporate cool by taking salaries of only $1, according to the proxy statement the company filed on Tuesday evening. Their vast holdings of Google shares may have taken a hit in value, tumbling 35 percent from its highs last fall, but the three executives are sticking with their one-buck pay stub.
It’s a request they first made in those wide-eyed days of 2004, when Google went public. Since then, Google says in its filing, “we offered each of them market-competitive salaries at the beginning of each of 2005, 2006, 2007, and 2008.” They rejected those offers.
Steve Jobs of Apple is the most famous, receiving only $1 in annual salary since he rejoined the company in 1997. That may soon be changing. The Apple board said in January that “because Mr. Jobs’s continued leadership is critical to the company, the compensation committee is considering additional compensation arrangements for him.” Jobs, to be sure, owns 5.5 million shares of Apple.
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