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Google Owners Take $1 Salary Once Again

Posted by in Industry News

Google founders, Larry Page and Sergey Brin along with the Google CEO Eric Schmidt, have renewed their contracts again at only $1 per year salary opting instead to just continue holding their shares.

Falling stock prices has wiped $8.5 Billion off their total net worth but it is reported that they are not phased, as they still have more money than any one person could spend and a belief in the fact that Google’s correlation to the stock market is still very minor.

Apple CEO, Steve Jobs, also receives a similar setup. I’m guessing their would be significant tax advantages of doing such a thing? Does anyone know?

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