Latest Technology News:
Technology news from around the world subscribe to our RSS feed.
Google pays executives $1 yearly salary
05/04/07 – The three executives at Google paid themselves a $1 yearly salary in 2006, recently published accounts have revealed. However, the combined shares owned by chief executive Eric Schmidt and co-founders Larry Page and Sergey Brin in the company were valued at $31.5bn.The three most important men at Google aren't poor, accounts showed payments listed as "other compensation" being made to Mr Schmidt and Mr Page.
Mr Schmidt received $555,742 while Mr Page took home $36,795.
It was revealed that both men spent the majority of this money on personal security, Mr Schmidt's total security costs were $532,755, 95% of the money he received.
Mr Brin did not receive the "other compensation" but he does own $13.2bn worth of the company's shares while Mr Page possesses $13.4bn worth of stock and Mr Schmidt $4.9bn.
The executives did receive bonuses of $1.723 and it also showed that Mr Schmidt enjoyed another perk, a corporate jet, which was also used by the other executives.
The value of the search giant's shares have risen from $85 a share when the company was listed on the stock exchange in 2004 to $460.84 a share last year.
They are more generous with the salaries for the company's four vice presidents of the company, they all received a annual wage of $250,000 last year.
Link to this news article using the url below:
http://www.pulsewebhosting.com/news/google-pays-executives-$1-yearly-salary/70/
Published Date: 2007-04-05 12:12:42Subscribe to our RSS News feed:
Web Hosting RSS
