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Google Founders Cut Salaries to $1

Posted by Zonk on from the good-and-evil dept.

GeneralCern writes "MSNBC Reports that Google founders Larry Page and Sergey Brin, and CEO Eric Schmidt all slashed their salaries to $1 last year. Since you do not have to pay FICA, Medicare, or income taxes on the capital gains associated with stock sales, they stand to substantially decrease their tax burden. Is this a breach of the company's "do no evil" mission statement, or just an example of people who love their jobs so much they don't need to be paid to go to work?" Update: 04/09 13:11 GMT by H :And don't trust the above tax lines; it all depends on how sales are done; moreover when you are worth X amount with stock, I suspect the "tax burden" of what is, relatively speaking, a salary that's small compared to networth isn't a substantial impact. Sorry folks; poor story.

11 of 652 comments (clear)

  1. That's it. by Rui+Lopes · · Score: 5, Funny

    Now i don't want to be google's next CEO any more.

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    var sig = function() { sig(); }
  2. Useful google search feature by alanw · · Score: 3, Funny
    If you do a google search for "define:word", it tells you what the word means

    e.g.
    http://www.google.co.uk/search?q=define%3Abreach
    or
    http://www.google.co.uk/search?q=define%3Abreech

  3. Uncle Sam by Anonymous Coward · · Score: 2, Funny

    I thought screwing Uncle Sam was "doing no evil"... especially around tax time.

  4. Evil? by sugapablo · · Score: 3, Funny

    It's never evil to stick it to the man!

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    Sugapablo
  5. Re:What does it matter? by Flamekebab · · Score: 2, Funny
    "we work because we are fierce of our product"
    That's a new way of using English, lol.
    "We're passionate about what we do!" might have been more what you were trying to say.

    *chuckles in a friendly manner*

  6. rich vs. wealthy by the+quick+brown+fox · · Score: 2, Funny

    "Shaq is rich; the white guy who signs his checks is WEALTHY." --Chris Rock

  7. Dear editors please be careful with these titles by vagabond_gr · · Score: 2, Funny

    Think about the poor google employees who had a heart attack reading "Google founders cut salaries to $1", before realizing to whose income it refers.

  8. Re:"do no evil" from a company that patents algori by mazarin5 · · Score: 2, Funny

    It wouldn't be if Disney had bought him out :)

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    Fnord.
  9. Re:The Objectivists are wrong. by Anonymous Coward · · Score: 1, Funny

    Alice Rosenbaum

    Look at me! I know Ayn Rand's real name! Take my ideas seriously!

  10. Re:"do no evil" from a company that patents algori by danmart · · Score: 2, Funny

    nothing wrong with company executives that avoid paying their fair share of taxes by using their position to hide their salary as stock or bonuses. Bill Gates does the same thing. You dont hear everyone saying bill gates is evil. So does larry elison. You dont hear everyone saying Larry Elison is unethical.

  11. Re:What was Slashdot before? by Anonymous Coward · · Score: 1, Funny

    has /. ever presented any original news content (news they wrote up themselves)?

    Certainly! Back in the day, there were many Slashdot-exclusive articles written by a fellow named Jon Katz. As I recall, he was well respected by everyone on Slashdot, and nobody ever maligned his stories.