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Famous CEOs who earn ‘Only’ $1 a Year

CEOs are generally notorious for enormous pay packages: on average $10.5 million a year, according to Forbes. But some chief executives opt to receive something less lofty, a base annual salary of just $1 or less per year!

Lee IacoccaLee Iacocca, Chrysler CEO, is credited to have been the pionneer in 1978 to get the $1 a year salary. Many still make millions in bonuses, stock options and other perks.

Whether they’ve done it for years like Google CEO Larry Page or during company crisis like Hewlett-Packard CEO Meg Whitman, CEO.com identified these CEOs that currently earn just one buck a year for their executive duties.

Larry EllisonLarry Ellison, co-Founder and CEO of Oracle:
Since 2009, Larry Ellison’s salary has amounted to just $1 a year. But last year, Ellison raked in a package valued at $96 million, mostly from perks, stock options and performance cash bonuses.

Richard_FairbankRichard Fairbank, co-founder and CEO of Capital One:
He is working for a base salary of $0 since 1997, but earned $15 million in stock and options last year, along with a deferred bonus of $2.19 million.

220px-Jeffrey_Katzenberg Jeffrey Katzenberg, CEO of Dreamworks Animation:
In 2009, Jeffrey Katzenberg renewed his $1 salary to run through 2013, reduced his usual $1 million short term-incentive compensation to zero while gaining 900,000 shares of stock.

Richard KinderRichard Kinder, founder and CEO of Kinder Morgan:
With no salary and no bonus, Richard Kindler’s compensation for 2012 still came to a whopping $60.94 million in stock gains. The ex-executive from Enron has a net worth of $9.8 billion and currently ranks as America’s fourth highest-paid chief executive.

edward lampertEdward Lampert, CEO of Sears:
A regulatory document filed on March 21 revealed Edward Lampert would join the club of CEOs earning a salary of $1.

john mackeyJohn Mackey, co-Founder and Co-CEO of Whole Foods Market:
In 2006, John Mackey announced he would slash his pay to $1, sell his stock portfolio to charity and set up a $100,000 emergency fund for staff facing personal problems. Last year, Mackey earned $680 million in stock gains but no bonuses.

larry page Larry Page, co-Founder and CEo of Google:
Last year, Larry Page earned absolutely nothing from his CEO salary at Google—except, for that $1, of course. His fortune from Google stock, however, ranks him as the 20th richest person in the world with a net worth of $23 billion.

Jeremy StoppelmanJeremy Stoppelman, Co-Founder and CEO of Yelp:
Just last month, Jeremy Stoppelman announced he would slash his salary base to $1 for 2013.

meg whitmanMeg Whitman, CEO of Hewlett-Packard:
For her second consecutive year, Meg Whitman will earn a simple $1 salary, but yes, she’ll also take home a hefty bonus or two. he majority of her pay is instead tied to the company’s performance via stock awards and options. This pay package last year was somewhere in the neighborhood of $15 million.

mark zuckerbergMark Zuckerberg, co-Founder and CEO of Facebook:
Starting in 2013, Mark Zuckerberg’s salary will be reduced down to $1 a year. As one of the youngest billionaires ever (his net worth is $13.3 billion), he seems to be doing just fine.

Steve JobsDon’t forget also one of the lowest paid CEOs of all times: STEVE JOBS, who was co-founder and CEO of APPLE. The visionary who lost his bout with pancreatic cancer on Oct. 2011 had an annual salary of $1.00 and not $1 million or $1 billion a year.

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2 Comments on “Famous CEOs who earn ‘Only’ $1 a Year”

  1. margret adler April 13, 2013 at 8:08 pm #

    Greetings! Very useful advice within this post!

    It is the little changes that produce the most significant changes.
    Thanks a lot for sharing!

  2. BLUMUS April 16, 2013 at 8:52 pm #

    I am curious along with enthusiastic about what you are covering the following.

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