Google founders, CEO took US$1 salaries in 2006

The co-founders and chief executive of Google will each be paid salaries of just US$1 this year, the same they've been paid since 2004

The three top executives at Google are also the lowest paid employees at the company, and they prefer it that way, according to a company filing to the U.S. Securities and Exchange Commission.

Google co-founders Sergey Brin and Larry Page, presidents of technology and products, respectively, and CEO Eric Schmidt, were each paid US$1 salaries for their work at the company last year, the same as they've been paid since 2004, and exactly the sum they will each receive this year.

"Eric, Larry and Sergey voluntarily receive only nominal cash compensation. Their primary compensation continues to come from returns on their ownership stakes in Google. As significant stockholders, their personal wealth is tied directly to sustained stock price appreciation and performance, which provides direct alignment with stockholder interests," the filing says.

The three executives have been offered competitive salaries but each has refused.

But as the filing says, the high price of Google stock has boosted the fortunes of the three executives. Based mainly on their holdings of Google stock, Forbes magazine ranks Brin and Page as tied for 26th place on its most recent list of billionaires, with a net value of US$16.6 billion each, while Schmidt ranked number 116, at US$6.2 billion.

Google's stock, which is listed on the U.S. Nasdaq market, ended trading on Wednesday at US$471.02 per share, up 2.3 percent so far this year and 454.1 percent since its initial public offering on Aug. 18, 2004.

The executives also received some other compensation during the year. Brin received the lowest amount of compensation, US$1,723, a bonus that was paid to every Google employee, including Page and Schmidt. On top of that amount, Page collected US$33,195 for transportation, logistics and personal security and US$3,600 for personal travel using rental vehicles, while Schmidt was allocated US$532,755 for personal security, and US$22,456 in tax gross-ups paid by Google, the filing says.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Dan Nystedt

IDG News Service
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?