A man once said “salary is for the poor; they don’t survive without it.” As much as what he said made little sense to me at the time, Facebook’s records made me think again.
Facebook Founder Mark Zuckerberg’s made $US3.3 billion in 2013, according to documents released by the company on Monday.
The chief executive who holds 426.3 million Facebook shares currently worth $US25.7 billion was paid $1 as salary last year.
Zuckerberg has no stock options remaining after exercising 60 million of them last year at a price of six cents per share. He then sold 41.35 million shares for $US55.05 apiece in December primarily to cover his taxes.
Gains posted for 2013 marks the second straight year that Zuckerberg has realised a huge gain from stock options. In 2012, he made $US2.3 billion off his stock options.
His $3.3 billion gains 2013 simply means the 29-year-old made $US275 million for every month in 2013, $63.4 million in each of the 52 weeks and $9.04 million a day.
With that kind of money, who cares if you are paid $1 a year?