Original URL: http://www.theregister.co.uk/2005/04/11/google_bosses_paycut/
Google bosses work for a buck. A year
Pity the poor billionaires...
Posted in Financial News, 11th April 2005 08:19 GMT
Free whitepaper – The Dell Management Console and ITIL
The founders of Google are getting a pay cut - they'll get just a dollar each this year.
Sergey Brin and Larry Page will get the nominal payment and no other bonuses or share options according to a regulatory filing made late last week.
Company chief executive Eric Schmidt also took the pay cut in spring last year - just before the company floated.
Before the cut Brin and Page received $150,000 and Schmidt got $250,000 a year. But Brin and Page also each own more than quarter of Google, worth $7bn, Schmidt has a ten per cent stake worth about $2.7bn.
The news will have little impact on the billionaires. The dollar-a-year chief executive is usually brought in to save companies in almost terminal decline - Steve Jobs took a dollar-a-year to return to Apple in 1996.®
Related stories
Yahoo! and Google's top brass cash in (http://www.theregister.co.uk/2005/04/06/tech_exec_cash_in/)
Google wants your DIY porn videos (http://www.theregister.co.uk/2005/04/05/google_video_filth/)
BBC throws strop at 'Ceefax Google' (http://www.theregister.co.uk/2005/04/01/ceefax_google/)