The co-founders and chief executive of Google will each be paid salaries of just $1 this year, the same as their salaries last year, according to a company filing to market regulators on Monday.
Eric Schmidt, Google’s chief executive officer, Sergey Brin, the popular search engine provider’s president of technology, and Larry Page, its president of products, will each be paid salaries of $1 for their work in 2005 and 2006, according to a filing to the U.S. Securities and Exchange Commission.
The three executives will probably find a way to make ends meet despite the tiny salaries. Brin and Page were both listed among a tie for 55th place on Forbes’ list of the world’s richest people last year, at $7.2 billion each, due largely to their holdings of Google stock.
Eric Schmidt ranked far lower on the list, at number 210, with just $2.8 billion, according to Forbes.
Google’s stock, which is listed on the U.S. Nasdaq market, rose 7 percent on Monday to $427.50, the hottest stock market story of the past two years. The ticker has more than doubled since the beginning of last year.
Other Google executives will be paid far higher salaries this year. David Drummond, Omid Kordestani, George Reyes, and Shona Brown all received raises to $250,000 this year, up from $175,000 last year, according to Google’s filing. The four are all senior vice presidents.
This story, "Google founders, CEO keep $1 salaries" was originally published by PCWorld.