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

Brand Post

Bitdefender 2018

Secure and Save before time runs out with Bitdefender Exclusive Clearance Offer! Get Bitdefender Total Security 2018 Now!

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

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.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?