360° Coverage : Facebook's Mark Zuckerberg Now Among Billionaire CEOs...

2 Updates
Facebook's Mark Zuckerberg Now Among Billionaire CEOs Earning $1 Salary
Photo Credit: Forbes Business

Facebook's Mark Zuckerberg Now Among Billionaire CEOs Earning $1 Salary

Apr 1 2014, 4:02pm CDT | by

Facebook founder and CEO Mark Zuckerberg is now the company’s lowest-paid employee, according to its latest proxy filing. Zuckerberg — worth $27.8 billion mostly in Facebook stock —  requested an...

Filed under: news

 
 
 

21 weeks ago

Facebook's Mark Zuckerberg Now Among Billionaire CEOs Earning $1 Salary

Apr 1 2014, 4:02pm CDT | by

Facebook founder and CEO Mark Zuckerberg is now the company’s lowest-paid employee, according to its latest proxy filing. Zuckerberg — worth $27.8 billion mostly in Facebook stock —  requested an annual wage of $1 in 2013, joining the ranks of a handful of other very wealthy CEOs who take a symbolically negligible base pay.

Zuckerberg, who earned $770,000 in combined salary and bonus in 2012, is now in good company among giants of the tech sector. Google's Sergey Brin and Larry Page, worth roughly $30 billion a piece, have been drawing a $1 salary for a decade now. Hewlett-Packard’s Meg Whitman (net worth $2 billion) and Oracle’s Larry Ellison (net worth $51.5 billion) also take just a buck in base pay. But unlike Zuckerberg, Brin and Page, the H-P and Oracle head honchos earn significant compensation in other ways. Whitman actually earned $17.6 million in stock and other performance-based awards in 2013, while Ellison was paid $79.6 million almost entirely in stock options — a dip from the $96 million he hauled in in 2012.  Dividends paid on the Oracle shares Ellison owns added  another $255 million to his annual take (before taxes).

Silicon Valley doesn’t hold the patent on $1 salaries, though. Richard Hayne, CEO of Urban Outfitters, is another billionaire in the $1 salary club — though he did draw a whopping $5,000 bonus in 2013. Oil and gas baron Richard Kinder, worth $9.3 billion, reaps $1 in total compensation from his energy company Kinder Morgan. In the biotech world, Robert Duggan, CEO of anti-cancer drug maker Pharmacyclics, thinks even $1 is a bit too rich. He takes no compensation whatsoever from the company, though he does have a $1.5 billion fortune comprised mostly of Pharmacyclics stock.

Although Zuckerberg will only hit up his social networking company for a $1 salary henceforth, Facebook is still ponying up for airfare and personal security. The company installed and maintains Zuckerberg’s security detail and also covered chartered flights for him and his guests for a total of $653,165 in 2013 — down from $1.2 million the previous year.

Source: Forbes Business

 
Update
2

3 days ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20,000 by ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

4 days ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the doub ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Nepal, India to hold energy talks
Kathmandu, Sep 2 (IANS) Officials from Nepal and India will be meeting in New Delhi Wednesday and Thursday to hold talks on the much-touted Power Trade Agreement (PTA) between the energy-starved nations.
 
 
Kala-azar free India by 2015: Harsh Vardhan
Pat Sep 2 (IANS) Health Minister Harsh Vardhan Monday said that India aims to eliminate dreaded vector-borne disease kala-azar by 2015.
 
 
Cannabis could be as addictive as drugs
New York, Sep 2 (IANS) As more people are able to obtain and consume cannabis legally for medical and, in some states in the US, recreational use, people are less likely to perceive it as addictive or harmful. But a research study proves otherwise.
 
 
New sensor to detect tiny, individual nano-particles
Washington, Sep 2 (IANS) In a major breakthrough, a team of researchers has developed a new sensor that can detect and count nano-particles, at sizes as small as ten nano-metres, one at a time.
 
 
 

Latest from the Network

Scoreboard of England's innings against India
Birmingham, Sep 2 (IANS) Scoreboard of England's innings against India in the fourth ODI of the five-match cricket series at Edgbaston here Tuesday. England Alastair Cook c Raina b Kumar 9 Alex Hales b Kumar 6 Gary...
Read more on Sport Balla
 
Saudi Arabia arrests 88 on terrorism charges
Riyadh, Sep 2 (IANS) Saudi Arabia's interior ministry has in the last few days arrested 88 people on terrorism charges in different parts of the country, media reported Tuesday. Of the total, three are Yemenis, one of...
Read more on Politics Balla
 
British deputy PM questions arrest of parents' saving kid
L0ondon, Sep 2 (IANS) British deputy prime minister has come in support of a campaign which seeks to to allow the parents of cancer patient Ashya King to be reunited with their five-year-old son, a media report said...
Read more on Politics Balla
 
US drone attacks Al Shabaab leader's home in Somalia
Nairobi, Sep 2 (IANS/EFE) A US drone targeted the home of the leader of the Al Qaeda-affiliated Al Shabaab terrorist organisation, Ahmed Abdi Godane, in Somalia, Somali officials told the media Tuesday. According to...
Read more on Politics Balla
 
Nepal, India to hold energy talks
Kathmandu, Sep 2 (IANS) Officials from Nepal and India will be meeting in New Delhi Wednesday and Thursday to hold talks on the much-touted Power Trade Agreement (PTA) between the energy-starved nations. According to...
Read more on Business Balla
 
Kala-azar free India by 2015: Harsh Vardhan
Pat Sep 2 (IANS) Health Minister Harsh Vardhan Monday said that India aims to eliminate dreaded vector-borne disease kala-azar by 2015. "We are confident to eliminate kala-azar by 2015 with a new road map," Harsh...
Read more on Business Balla
 
UN to probe Israeli offensive against Gaza
Ramallah, Sep 2 (IANS) A senior Palestinian diplomat announced Tuesday that a UN inquiry committee will arrive in the Gaza Strip in October to probe the 50-day Israeli offensive on the Gaza Strip. "We were officially...
Read more on Politics Balla
 
India and Japan will steer the 21st century: Modi
Tokyo, Sep 2 (IANS) Prime Minister Narendra Modi Tuesday said India and Japan's friendship will determine the course of the 21st century. "There is no doubt that the 21st century belongs to Asia. But India and Japan's...
Read more on Politics Balla
 
Spears opens up about ex-boyfriend's infidelity
Los Angeles, Sep 2 (IANS) Singer Britney Spears, who recently split from her boyfriend David Lucado, addressed the infidelity issue for the first time during her show in Las Vegas. "So I know you know my boyfriend...
Read more on Celebrity Balla
 
Cannabis could be as addictive as drugs
New York, Sep 2 (IANS) As more people are able to obtain and consume cannabis legally for medical and, in some states in the US, recreational use, people are less likely to perceive it as addictive or harmful. But a...
Read more on Apple Balla