You Heard Right, Zuckerberg Earned Just $1 in 2013
Facebook (NASDAQ:FB) executive Mark Zuckerberg saw his salary drop to a mere $1 a year in 2013, according to a MarketWatch report Tuesday; but before you start feeling sorry for the billionaire, don’t forget — he still bagged $3.3 billion from selling stock options. He also happens to be the 22nd richest person on the planet, according to the Bloomberg Billionaires Index, and last year the Zuck saw his net worth surge after shares of Facebook more than doubled in value.
Still, Facebook’s Chief Executive Officer saw his base salary fall from $503,205 in 2012 to just $1 in 2013, according to a regulatory filing with Securities and Exchange Commission late Thursday, though the drop was originally announced via a filing a whole year ago. He also saw a 68 percent slide in compensation between 2012 and 2013; in 2012, Zuckerberg topped the list of highest paid CEOs with earnings of $2.28 billion that year, according to MarketWatch.
Zuckerberg isn’t the only billionaire who’s decided his salary should be just a dollar a year, and the practice isn’t exactly a new idea either: Google’s CEO, Sergey Brin, Oracle’s Larry Ellison, and Tesla’s Elon Musk all also earn just one George Washington for their trouble, and most famously, perhaps, Apple’s former CEO, Steve Jobs, was one of the first to popularize the $1 salary, MarketWatch reports.
The 29-year-old billionaire CEO’s total wealth amounts to about $27 billion, and he remains a controlling majority shareholder, holding 426.3 billion shares that give him 61.6 percent of voting power in the California-based social media giant.
Zuckerberg isn’t the only Facebook executive with a salary that has fallen since the 2012 plateau. Sheryl Sandberg, Facebook’s Chief Operating Officer, took home $16.2 million in 2013, compared with $26.2 million the year before, though she did become a Billionaire in January of this year, following a rise in Facebook’s shares, according to Bloomberg.
Similarly, the company’s Chief Financial Officer also saw a downturn in salary for 2013; David Ebersman made $10.5 million this past year, down from $17.5 million in 2012. Vice President David Fischer saw his salary slide from $12 million in 2012 to just $8 million in 2013, and Chief Technology Officer Mike Schroepfer saw a $12.6 million salary in 2013, down from $20.7 million the year previous.