Google Executives receive $1 salary; Billions in Fringe benefits.
Google Executives recieve $1 salary. Billions in Fringe benefits.
The three top executives at Google Inc. racked in a cool $1 in their 2006 total salary earnings according to a regulatory filing made Wednesday.
Chief Executive Eric Schmidt and co founders Larry page and Sergey Brin pocketed their $1 checks and the usual holiday bonus of $1,723 a piece, given to every Google employee. Their salary and bonuses changed very little from 2005, when they each earned a salary of $1 and bonuses of $1,630 to $1,723.
Yet, the $1 salary and worker bonus given to the internet search tycoons is truly unnessescary. Google is a company that is all about stock options and fringe benefits. After all, co-founders Page, Brin and CEO Schmidt, collectively own two-thirds of the voting stock of Google, which has a market value of about $150 billion.
In the filing with the U.S. Securities and Exchange Commission, Google declared $532,755 for the personal security of its CEO. The report did not detail the nature of the security costs although it did not dismiss a notion that the costs were safeguards against terrorist attacks from loyal Yahoo users.
Exactly $22,456 went to offset taxes on aircraft chartered for Schmidt for Google "business" when their family and friends tagged along. Page received other compensation of $33,195 for transportation, security during personal travel and $3,600 for personal travel using rental vehicles. Tell this to your boss next time you dont get the conpany car.
The trio were not always this ironically thrifty. Prior to 2004 when the company went public Mr. Schmidt, Mr. Page and Mr. Brin all made respectable salaries. They requested their salaries be cut to $1 and shortly after they all became Billionares. The next time you look for a job consider the stock options and benefits first, even if the salary makes the lowliest sweat shop worker giggle in pride.
Tags: Google , Salary , Page , Schmidt
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