Jeff Bezos, the founder of Amazon and one of the richest people in the world, has been paying himself a modest salary of $80,000 for the past 20 years. In a recent interview with the New York Times, Bezos explained that he didn’t feel the need to take a higher salary because he already owned a significant portion of the company. With more than 20% ownership of Amazon, Bezos felt that he had plenty of incentive to continue growing the company without the need for a higher salary.
While Bezos may not be the only CEO to pay themselves a low salary, he is certainly one of the most well-known. Other notable CEOs who have opted for a $1 annual salary include Google co-founder Larry Page, Oracle’s former CEO Larry Ellison, and Whole Foods founder John Mackey. Despite their low salaries, these CEOs have substantial ownership stakes in their companies, allowing them to earn significant income through stock options and other forms of compensation.
In comparison, Facebook CEO Mark Zuckerberg earns a higher salary of $600,000 per year. While this may seem like a large sum to most of us, it pales in comparison to the salaries of other top CEOs in the industry. Zuckerberg’s decision to take a lower salary reflects his focus on long-term growth and sustainability for Facebook, rather than personal financial gain.
Overall, the trend of CEOs paying themselves low salaries while retaining significant ownership stakes in their companies is not uncommon. By focusing on the long-term success of their businesses, these CEOs are able to align their interests with those of their shareholders and stakeholders. As Amazon and other major corporations continue to thrive, the wealth of these CEOs will only continue to grow, regardless of their modest salaries.
