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

Apr 1 2014, 4:02pm CDT | by

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

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


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

Pamela Anderson boycotts ALS Ice Bucket Challenge
Los Angeles, Aug 23 (IANS) Actress Pamela Anderson has refused to take the Ice Bucket Challenge, benefiting the ALS Association.
Cheers! Rule of thumb can control drinking
New York, Aug 23 (IANS) Did you ever try using a rule of thumb such as a half-glass rule or a two-fingers-from-the-top rule when pouring wine? Do this if you want to keep your weight in check.
Serotonin can reduce sensitivity to pain
Lisbon, Aug 23 (IANS) Researchers at Portugal's Champalimaud Foundation said Friday that the molecule of serotonin in the organism can diminish sensitivity to pain.
Pomegranate peel may cure deadly brain disorders
London, Aug 23 (IANS) Do not throw that pomegranate peel in the garbage bin. In the near future, it may be a source of drugs for two incurable diseases that affect the elderly.

Latest from the Network

My children know they are lucky: Julianne Moore
Los Angeles, Aug 23 (IANS) Actress Julianne Moore's children may be privileged to be growing up in a famous household, but they do not take it for granted. The actress, who is married to director Bart Freundlich, has...
Read more on Celebrity Balla
Pamela Anderson boycotts ALS Ice Bucket Challenge
Los Angeles, Aug 23 (IANS) Actress Pamela Anderson has refused to take the Ice Bucket Challenge, benefiting the ALS Association. Celebrities like Lady Gaga, Tom Cruise and Mickey Rourke took the challenge, which aims...
Read more on Celebrity Balla
Clarke doubtful for tri-series opener
Harare, Aug 23 (IANS) Australian captain Michael Clarke has suffered a hamstring injury and could miss the tri-series opener in Zimbabwe, also involving South Africa, starting Monday in Bulawayo. Clarke picked up the...
Read more on Sport Balla
LaBeouf encountered stalker at home, called police
Los Angeles, Aug 23 (IANS) Actor Shia LaBeouf called 911 after coming face-to-face with an intruder at his home here. A woman who'd been stalking him for week was right at his door. Tmz.com reports that the police...
Read more on Celebrity Balla
James Gunn praises 'superhero' Dave Bautista
'Guardians of the Galaxy' director James Gunn says Dave Bautista's superhero-like strength was a godsend on set. Bautista rose to international fame through the WWE, before making the transition to the world of cinema...
Read more on Movie Balla
Nick Cannon calls it quits
Los Angeles, Aug 23 (IANS) Actor-rapper Nick Cannon has reportedly decided to end his marriage with singer Mariah Carey for the sake of their children. The two married in 2008 and have twins. Tmz.com reports that...
Read more on Celebrity Balla
Nick Cannon seems depressed?
Nick Cannon is ''depressed'' over his split from Mariah Carey. The 'America's Got Talent' host, whose shares three-year-old twins, Monroe and Moroccan, with his estranged wife, is said to be very upset despite...
Read more on Celebrity Balla
Sofia Vergara is being tortured in the gym
Sofia Vergara claims she is being tortured in the gym ahead of the Emmy Awards. The 'Modern Family' star has intensified her workouts with her personal trainer, Jennifer Yates, as she wants to look in tip-top shape at...
Read more on Celebrity Balla
Kate Moss undergoes chilly fat burning treeatment
Kate Moss has been using a Cryotherapy chamber. The 40-year-old supermodel recently went on a break to the LifeCo retreat in Turkey, which she visits several times a year, and during her detox, she was immersed in...
Read more on Celebrity Balla
Paul Stanley found strength by opening up
Paul Stanley found strength when he opened up about being bullied as a child. The KISS rocker - who was born with a deformed right ear and suffers from deafness as a result - was subjected to years of taunts by his...
Read more on Celebrity Balla