Google's top executives only earn $1 a year

Posted on Wednesday, January 25 2006 @ 1:20 CET by Thomas De Maesschalck

Larry Page and Sergey Brin, Google's co-founders and co-presidents, along with Chairman and CEO Eric Schmidt, agreed once again to be paid a annual salary of only $1 each in 2006.

Instead, they count on stock options and grants of the company's volatile stock for their pay.

The practice of paying the top Google executives $1 per year in base salary started in the second quarter of 2004, during the run-up to the company's initial public offering in August 2004, according to the company's regulatory filings.

Previously, Schmidt had earned $250,000 and Brin and Page had been paid about $150,000 in salary, even as they accumulated stock options that have made them billionaires, at least in the potential value of their shares and options.

More details over at ZDNet.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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