Mark Zuckerberg Facebook CEO gets only $1 salary
You won’t believe that CEO of Facebook, Mark Zuckerberg only earns $1 salary per year. You might have read about articles concerning the high paid tech firm CEO’s in the US. India’s personal Sundar Pichai, CEO of Google took home $100.5 million in 2015 whereas his compatriot, Satya Nadella of Microsoft took home $84 million (2014 figures).
Whereas salaries of prime tech firm CEOs could alarm most purists, Mark Zuckerberg, the CEO and founding father of worlds most popular social networking web site, Fb, attracts a measly wage of $1 per 12 months.
Sure, you heard it right. Whereas there are various CEO’s who’ve introduced a token $1 wage per yr however take house stock choices and different bonuses, Zuckerberg has denied himself any bonus, new stock choices or new equity awards from Fb.
In 2013, Mark Zuckerberg introduced that he’s giving up his wage and can solely be drawing $1 per yr within the capability of Fb’s CEO. Whereas answering a query in one among his Q&A; sessions on Fb he stated:
“I’ve made sufficient cash. At this level, I’m simply targeted on ensuring I do essentially the most doable good with what I’ve. The principle approach I will help is thru Fb — giving people the facility to share and connecting the world. I’m additionally specializing in my training and well being philanthropy work exterior of Fb as well. Too many individuals die unnecessarily and don’t get the alternatives they deserve. There are many issues on the earth that must get fastened and I’m simply fortunate to have the prospect to work on fixing a few of them.”
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Ever for the reason that financial disaster of 2007-2008, there was a rising pattern amongst CEO’s to take a token $1 wage per 12 months. Others CEOs who draw a base pay of $1 are HP’s Meg Whitman, Oracle’s Larry Ellison and Google co-founder Larry Page.
The story behind the $1 wage package deal per 12 months comes from the times of World Struggle I. When the wars sagged the US economic system, many companies got here ahead to assist US authorities mobilise and run the American industries. Because the US legislation doesn’t permit the federal government to deploy individuals who give providers free of charge, the idea of $1 wage was born. They have been paid a nominal wage of $1 ratifying their authorized employment with the federal government.