The three executives who run Google
Inc. each drew a salary last year of $1. But Chief Executive Eric
Schmidt and co-founders Larry Page and Sergey Brin more than made up
for it in the large stakes they own in the online-search company, which
has made them billionaires.
Besides his $1 salary, Mr. Schmidt received a bonus of
$1,723 and "other compensation" valued at $555,742, according to a
proxy statement filed with the Securities and Exchange Commission. Of
his other compensation, $532,755 was for personal security.
Mr. Schmidt, 51 years old, owns 10,096 of Google’s
Class A shares and 10.7 million of its Class B shares. At the end of
2006, those securities were valued at about $4.9 billion.
Mr. Brin, 33, beneficially owns 28.6 million of
Google’s B stock, which was valued at about $13.2 billion at the end of
2006. Mr. Page, 34, owns 29.2 million shares, valued at about $13.4
billion at the end of the year.
Google, Mountain View, Calif., doesn’t maintain executive-retirement programs or other benefits.