Tuesday, September 20, 2005

Trio of Google billionaires slashed salary - U.S. Business - MSNBC.com

GOD BLESS THEM. GOD BLESS BILLIONAIRIES AND MILLIONAIRIES LIKE THEM! (Here I go again, strainning away from pure scientific rational behavior...silly me!)

Trio of Google billionaires slashed salary
Co-founders Page and Brin, CEO Schmidt earned $1 last year

Updated: 7:20 p.m. ET April 8, 2005
SAN FRANCISCO - The trio of billionaires who run — and own much of — online search engine leader Google Inc. reduced their individual salaries to $1 last year and rejected a recent attempt to give them a raise, according to documents filed Friday.

Google co-founders Larry Page and Sergey Brin and the company’s chief executive, Eric Schmidt, dramatically lowered their salaries last spring — right around the time that the Mountain View-based company filed its plans for a much-anticipated initial public offering of stock that made their paychecks largely irrelevant.

Before the concessions, Google paid Page and Brin an annual salary of $150,000 apiece. Schmidt collected a $250,000 annually before lowering it to a buck. In the months leading up to the pay cuts, Page and Brin each collected $43,750 of their former salaries while Schmidt pocketed $81,432, according to a filing with the Securities and Exchange Commission.

read the rest of the story...

No comments: