Google CEO, co-founders to get $1 salary in 2007

By
March 6, 2007 01:55

The three billionaires who run online search leader Google Inc. will settle for a $1 salary again this year while four other top executives will receive raises of $200,000 (€153,000) apiece, according to documents filed Monday. It marks the third consecutive year that Google Chief Executive Eric Schmidt and co-founders Larry Page and Sergey Brin have limited their salaries to a $1. It is a sacrifice that they can afford because they have gotten rich off their large stakes in Google, whose stock price has more than quintupled from its initial offering price of $85 in August 2004. Page and Brin are each worth about $14 billion (€10.7 billion) while Schmidt's fortune stands at $5 billion (€3.82 billion), according to Forbes magazine's annual ranking of the nation's wealthiest people. The salaries of four other Google executives are climbing from $250,000 (€191,000) in 2006 to $450,000 (€344,000) this year. They are: Robert Eustace, senior vice president of engineering and research; Omid Kordestani, senior vice president of global sales and business development; Jonathan Rosenberg, senior vice president of product management; and George Reyes, the company's chief financial officer.


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