Find Out Why Facebook CEO Will Now Earn Just 85/- A Year As Salary
As the CEO of Facebook, Mark Zuckerberg is expected to take home a hefty salary every end month (like today) but no, he will not be taking home any millions. According to Huffingpost, the Facebook CEO will not receive any bonuses; in fact he will be taking a huge pay cut.
This means Zuckerberg, will be joining the $1 (KSh85) salary club. It has become sort of a CEO tradition to cut their salary to $1 once their company is highly successful. You may ask how he will survive on a paltry 85 bob. Well, It just was announced last Friday that Zuckerberg made $2.3 billion when he cashed out 60 million stock options in 2012. Last year he made $500,000 and got a $266,101 bonus.
Steve Jobs famously took a $1 salary from the time he returned to Apple as CEO in 1998; he didn’t take any stock grants after 2003, either. In 2005, Google co-founders Larry Page and Sergey Brin, along with then-CEO Eric Schmidt, all reduced their salaries to $1. Schmidt, now executive chairman, takes a salary of several million dollars these days; Page, now CEO, and Brin still make $1.
