When you are a giant titan of your industry and are the 22nd richest person in the world according to Forbes, how you get paid isn’t as simple as it is for us “normal people.” Zuckerberg takes a salary from Facebook, over half a million dollars worth in 2012, but he also gets his money through stock moves, and that lets him rack up quite a bit of cash.
So much cash in fact, that Zuckerberg raked in $3.3 billion last year, despite taking a salary of only one dollar from Facebook. Zuckerberg obtained this not-so-modest sum by exercising his Facebook stock options.
His gain was revealed by regulatory documents Facebook released today. The documents also indicate that he no longer has any stock options left with the company, but he does still own 426.3 million shares in Facebook, valued at over $25.7 billion.
Other Facebook executives also took a pay cut, although none quite as extreme as Zuckerberg’s one dollar salary. Sheryl Sandberg, Facebook’s COO, had her salary drop from $26.2 million to $16.1 million. David Ebersman, Facebook’s CFO, lowered his salary from $17.5 million to $10.5 million. Facebook’s VP of business and marketing partnerships, David Fischer, had his salary lowered from $12 million to $8 million and Chief Technology Officer Mike Schroepfer “only” made $12.6 million, down from $20.7 million.
Somehow, we think they will survive.
[Photo Credit: deneyterrio]