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

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17 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

 
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10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan R ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammuddin ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the souther ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in compensatio ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

8 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustapa M ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

8 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

8 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Sc ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
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1

8 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara S ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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