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ReturnTop top top • Part
03 /
Schmidt's package totaled
$557,466, including $532,755 for personal security.
Page's pay totaled $38,519, with most of the money
covering personal transportation, logistics and
security. Brin's 2006 pay consisted of a $1 salary
and a $1,723 bonus. Google paid the same salary and
holiday bonus to Schmidt and Page. TVI Magazine is not
responsible for the content of external InterNet
sites More
Articles • Converging
News MAY 2007 / TeleCom BuyOuts,
Spinoffs
and Asset Seizure Boom Respectfully
Submitted • • 110 / HiTech • TVI
Magazine HOLLYWOOD
BEAT LookRadio AMAZON SoulFind NBS100 120 PIXELS 3
columns 40 40+110+570=720
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ˆ
ˆ
ˆ
ˆ
The Trio of billionaires
at Google, Larry Page, Sergey Brin, and Eric
Schmidt are paid only $3 per year to run Google.
1.
Feature Story / Google's
big three's income, comes mostly from the sales of
Google stock.
•
•
Last year, the trio of
billionaires who co-founded and operate the Google
organization, collected less than $600,000 in
combined on the job compensation for their efforts
in sustaining Google's number one headliner status
on the Web, as well as on Wall Street.
•
•
The Associated Press
reported the total amount that Google paid its
chief executive, Eric Schmidt, and co-founders
Larry Page and Sergey Brin and Eric Schmidt during
2006 would have been less than $5,200 if not for
personal security and transportation costs,
according to documents filed Wednesday with the
Securities and Exchange Commission.
.Part
02
/
As of March 1, Page, 34,
owned 29.2 million Google shares currently worth
$13.7 billion, and Brin, 33, held 28.6 million
shares worth about $13.4 billion. Schmidt, 51, owns
10.7 million shares worth $5 billion.
•
•
The three men have been
converting some of their holdings into cash by
regularly selling some of their stock since the
company went public in August 2004.
•
•
Last year, Brin, Page and
Schmidt made more than $2 billion combined from
their Google stock sales, according to data
compiled from SEC filings by Thomson Financial.
Brin sold 1.99 million shares for a total windfall
of $788 million last year, and Page pocketed $666
million by selling 1.72 million shares. Schmidt
cashed out 1.39 million shares during 2006 for a
total of $580 million.
•
•
Since its initial public
offering, Google's shares have surged more than
fivefold, and that has created more than $120
billion in shareholder wealth. The shares fell
$1.58 to $471.02 on Wednesday.
•
•
The rapid run-up in Google's
stock has been driven by its search engine, which
has become synonymous with looking things up on the
Internet. The search engine also propels a
lucrative online advertising network that enabled
Google to turn a 2006 profit of $3.1 billion, more
than doubling its earnings from the previous
year.
•
•
The robust growth has
enabled Google to add more than 8,000 workers
during the last three years. At the end of 2006,
Google had 10,674 employees -- all of whom were
eligible for the same holiday bonus paid to
Schmidt, Page and Brin.
•
•
Google's brain trust has
already agreed to settle for a $1 salary again this
year, rejecting an opportunity for a raise,
according to the SEC filing
•
•
The Associated Press based
the pay totals on salary, bonus, incentives, perks,
above-market returns on deferred compensation and
the estimated value of stock options and awards
granted during the year.
•
•
Schmidt, Page and Brin have
declined to take anything more than a token
paycheck for the last three years to promote the
egalitarian spirit championed by the Mountain View,
Calif.-based company.
•
•
It's a sacrifice that the
three executives can afford to make because
Google's highflying stock has elevated them into
the ranks of the world's richest people. Meanwhile,
hundreds of Google's early employees have become
millionaires.
4.
Related Stories
Josie
Cory
Publisher/Editor
TVI Magazine
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Associated Press, Reuters, BBC, LA Times, NY Times,
VRA's D-Diaries, Industry Press Releases, They Said
It and SmartSearch were used in compiling and
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report.
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