The Other Side of the $1 Salary

In the last decade he has accumulated nearly 5.6 million shares of company stock. At today's share price, that's nearly $500 million worth of stock.

Jobs was also given a Gulfstream V jet by the company in 2000. The cost: $90 million. And when Jobs uses the jet for business, Apple pays him for use of the plane. In 2007, those payments came to $776,000.

In March, Apple shareholders voted to gain a bit more control over the pay of Jobs and other executives. Shareholders approved a "Say on Pay" proposal submitted by the AFL-CIO Reserve Fund that asks the board to allow shareholders to vote on executive pay.

After the vote, Jobs said jokingly: "I hope Say on Pay will help me with my $1 a year salary," according to the San Francisco Chronicle.

Google's Eric Schmidt

Google CEO Eric Schmidt along with founders Larry Page and Sergey Brin -- now respectively president of products and president of technology -- each take home $1 a year in salary.

But, like Jobs, they each get large paydays through stocks and other bonuses. For 2007, Schmidt took home $480,561, according to the Corporate Library. The vast majority of that money from Google went for Schmidt's personal security team.

But Schmidt now has about 9.5 million shares of Google stock, worth $2.6 billion these days. Page and Brin also have a few billion dollars worth of stock.

Jerry Yang

Yahoo CEO Jerry Yang, who plans to step down shortly, rounds out the Silicon Valley executive $1 club.

But unlike his counterparts, Yang didn't get any other bonuses or stock options in 2007, according to the Corporate Library. As co-founder of Yahoo, he's already a billionaire; but because he is a major shareholder in the company, his wealth is directly tied to its health.

Jeffrey Katzenberg

DreamWorks Animation SKG Inc. CEO Jeffrey Katzenberg also received a $1 salary but waived $11 million in stock options and awards. In 2006 he also took a $1 salary but had $5.2 million worth of stock and options from recent years vest. As a DreamWorks founder, he owns millions of shares in the company.

Richard Kinder

Kinder Morgan Energy Partners CEO Richard Kinder is also part of the $1 club. He did have a bit more than $1 million in stock options vest last year, according to the Corporate Library, but otherwise had no compensation.

Kinder has fared pretty well, considering that he used to be an Enron executive. But in 1996, Enron chief Kenneth Lay kicked his former college classmate out of the company. It was good luck, considering Enron's collapse. As a side note, in 1997 Kinder married Nancy McNeil, Lay's personal assistant.

Glenn Murphy

Sales at clothing chain Gap have been slumping and CEO Glenn Murphy has also entered the no-pay club as he tries to fix his company. But, according to the Corporate Library, in 2007 he still was paid $268,102 in other compensation by the company.

-- This embed didnt make it to copy for story id = 6378775. -- This embed didnt make it to copy for story id = 6378775. -- This embed didnt make it to copy for story id = 6378775. -- This embed didnt make it to copy for story id = 6378775. -- This embed didnt make it to copy for story id = 6378775. -- This embed didnt make it to copy for story id = 6378775. -- This embed didnt make it to copy for story id = 6378775. -- This embed didnt make it to copy for story id = 6378775.
Page
  • 1
  • |
  • 2
Join the Discussion
blog comments powered by Disqus
 
You Might Also Like...