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Facebook's Mark Zuckerberg Takes $1 Salary

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Facebook's Zuckerberg Takes $1 Salary

Mike Matas

Facebook founder and chief executive Mark Zuckerberg waving from a trolley during the San Francisco Lesbian Gay Bisexual Transgender Pride Celebration on June 30, 2013. Facebook had about 700 employees, or 15 percent of its workforce, at the parade.

Facebook founder and chief executive Mark Zuckerberg decided he's worth $1 a year, at least according to his salary.

Previously, Zuckerberg was paid $503,205 in 2012, but in 2013 only claimed $1, according to Bloomberg News.

The report comes from regulatory filings, and comes after Facebook's initial public offering. Those of you who worry about Zuckerberg probably shouldn't. He's still the 22nd richest person in the world, according to the Bloomberg Billionaires Index.

Of course, Zuckerberg did receive $653,165 in compensation for "passenger fees, fuel, crew and catering costs for his use of private planes for personal reasons, as part of his security program," according to Bloomberg.

Zuckerberg's $1 annual salary comes from a Silicon Valley tradition -- Apple's Steve Jobs, as well as Google's Larry Page and Sergey Brin, also take $1 salaries. Of course, that's likely because each held or currently holds a hefty amount of company stock and likely sold a bunch of it to make them independently wealthy. Last year, he cashed out $2.3 billion and another $1.1 billion to pay his tax bill.

As we can see, salaries don't really make wealth for Silicon Valley elites. It's really all about the IPO and number of company shares.

 

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