Facebook confirmed in a filing that Mark Zuckerberg, the social network’s founder and CEO, is making a salary of $1 this year and foregoing any bonuses, as well.
But he’s not exactly taking a vow of poverty. When Facebook went public last year, Zuckerberg exercised 60 million stock options, then worth nearly $2.3 billion, buying those shares for next to nothing. (He sold half of the stock to cover his tax bill.) And he’s still sitting on another 60 million stock options that can be exercised on Nov. 7, 2015, for the same dirt-cheap price of six cents.
All of those shares give Zuckerberg plenty of incentive to keep Facebook in good financial health, although he is on record saying, “We don’t wake up in the morning with the primary goal of making money,” and isn’t really beholden to shareholders, since he controls a majority of proxy votes.
The $1 salary…
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