Facebook CEO Mark Zuckerberg's salary drops to just $1

By on April 1, 2014, 4:30 PM
facebook, ceo, mark zuckerberg, shares, sheryl sandberg, salary, david ebersman, mike schroepfer, david fischer

Ranked as the 22nd richest person on the planet by the Bloomberg Billionaires Index, Facebook's Mark Zuckerberg decided to follow suit with other extremely wealthy silicon valley entrepreneurs, taking a $1 salary in 2013.

The news comes by way of a filing with the U.S. Securities and Exchange Commission yesterday. The $1 salary is down from the over half a million Zuckerberg was paid the year prior. While this may come as a surprise to some, it is quite a common practice, people like Google's Larry Page and Sergey Brin both take home $1 in salary as well. Many feel the practice was popularized by the late Apple co-founder Steve Jobs.

With a total worth of around $27 billion and with Facebook shares doubling in value last year, the half a million dollar hit Zuckerberg took last year isn't going to do much damage. He made $3.3 billion in 2013 after purchasing 60 million shares with enough left over to give 18 million of them to charity.

On top of the $1 in salary, the Facebook co-founder still spent more than $650,000 in compensation for private planes and catering. All of which is necessary for his personal safety and was down from nearly $2 million in 2012, according to the SEC filing.

It wasn't just Zuckerberg taking a hit either, COO Sheryl Sandberg, who recently became a billionaire when Facebook shares skyrocketed earlier this year, was docked around $10 million in 2013 compared to 2012. Other Facebook execs saw a drop in compensation last year as well, including CFO David Ebersman, CTO Mike Schroepfer and VP David Fischer.

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