Google reveals exec salary deal
Search engine giant Google only paid its three executives salaries of $1 (50p) in 2006, accounts show.
But chief executive Eric Schmidt and co-founders Larry Page and Sergey Brin saw their combined Google shares worth $31.5bn by the end of the year. Mr Schmidt's "other compensation", was $555,742 while Mr Page's hit $36,795. For both men, much of this went towards personal security. One perk was Mr Schmidt's corporate jet, also used by other executives.
Strong shares
Of Mr Schmidt's "other compensation", over 95% - $532,755 - was for personal security. All three executives saw bonuses of $1,723, but Mr Brin, president of technology, did not receive "other compensation". However, his shares in Google were worth $13.2bn, while Mr Page had shares totalling $13.4bn and Mr Schmidt's were worth $4.9bn by year end. Since listing in August 2004 shares in the internet giant have risen from $85 to $460.48 last year.
While the three men's salaries were only a $1 apiece, this was not the case for other employees in key positions. Four vice presidents - George Reyes, Shona Brown, David Drummond and Jonathan Rosenberg - all saw salaries of $250,000 last year.
:source: Source: http://news.bbc.co.uk/1/hi/business/6527509.stm
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I remember almost buying some Google shares for $80 but I thought they were overpriced and would come down - Doh!:frusty:
