Who Are The Trendsetting $1 Salary CEOs ?

Posted: 4/03/2013

Being a CEO is a thing of prestige and privilege. In general perspective, both these attributes are somehow always imagined in terms of monetary value i.e the bigger a corporation, its CEO must be equally making big bucks.

According to a past analytics, on an a average big CEOs are quite notorious to draw heavy paychecks and bank balances amounting to $10.5 million.

In a starkling report by the Forbes.com, there are actually some CEO of top corporate companies who draw a base salary of just $1. Baffling isn't it?

More astounding is the fact that all these CEO's are well educated and even socialites of the top order. They have their own families and lifetstyles to live up to as well. So how does a $1 salary make these CEO' survive in the material world?

It seems like a Fool's errand to even imagine such a scale of austerity. To look back in time, the trend was set in 1978 by Chryser CEO Lee Lacocca. However, it is more of an effort to make an austerity style statement rather than having an actual cut back. These CEOs make up for this $1 paper sham by earning millions through bonuses, stock market investment and perks.

See the whole list here of these austerity driven CEOs below:

1. Larry Ellison- CoFounder and CEO of Oracle

Since 2009, Ellision has been drawing a $1 salary and still is counted amongst the top 5 richest millionaires of the wold.It has been reported that he amassed $96 million from stocks and bonus packages.

2. Richard Fairbank, CEO of Capital One

As goes his name, Mr.Fairbank has practically lived on $0 salary since 1997 but earned a sizeable $2.19 through bonuses and record breaking $15 million through stock investments last year.

3. Jeffrey Katzenberg, CEO of DreamWorks Animation

One of the most perennial face on the investment and stock scene, Katzenberg renewed his $1 salary bill well into 2013. But his main earning scome from his eligibility for equity incentives and bonuses as he earned a whopping 900,000 shares of stock these few years.

4. Edward Lampert, CEO of Sears

In a recent report filed to gather his assets worth, Lampert is the latest to enter the $1 list. However, by the year end he is likely to be rewarded a $2 to $4.5 million bonus package.

5. John Mackey, Co-Founder and CEO of World Foods Market

The Stores-chain baron, in a 2006 letter announced his salary slash and stock sell out to charities. Infact, he set up a $100,000 fund for his employees in case of emergencies. Unlike most other CEOs, his philanthrophy is known far and wide. He earned $680 million through stock options in 2012.

6. Larry Page, Co-Founder and CEO of Google

A billionaire in his own stead, Google's co-founder is listed as the 20th richest person but still draws a petty $1 pay.

7. Jeremy Stoppelman, CEO of Yelp

He is another newbie on the scene. It was only last month that Yelp's CEO announced a slash in his salary. However, the erstwhile PayPal founder is a worthy investment option and is likely to earn $2million with Yelp stocks remaining steady over time.

8. Meg Whitman, CEO of Hewlett-Packa

HP's boss lady is already worth $16 million including her cash bonuses and company's stock performances. This will be the second year that Whitman will be taking home a $1 salary besides the other perks, ofcourse.

9. Mark Zuckerburg, Co-Founder and CEO of Facebook

One of the youngest billionaires in the world, Zuckerburg had to make it to this list certainly. Keeping up with industry trends, he too announced a salary slash in 2013 only. But he shall do just fine with his $14 billion fortune to squander.

Do let us know your take on these noble gesture of these CEO's by leaving us a comment.

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