March 26, 2009 by James Oliver
Despite mounting economic hardship, Google directors (and founders), Larry Page and Sergey Brin stuck to their customary $1 dollar a year salary last year. In an era of perceived corporate greed Page and Brin evidently decided that it was worth marking themselves and their company out as an exception to the rule. The pair also decided to forgo bonuses this year despite the fact that Google has been performing well and expanding in spite of the credit crunch.
That’s not to say that the pair made no money last year, not by any stretch of the imagination. Larry Page and Sergey Brin own 29.2 million and 28.6 million respectively in Google shares and receive their primary remuneration from share dividends. Unlike some companies who have stopped paying dividends or reduced the amounts thanks to the economic climate, it is thought that the money being made by Google shareholders is still considerable. Google stock has followed the market down to an extent, though is still thought to have performed very well in relative terms.
2008 was the pair’s fifth consecutive year of single digit income after enacting the policy in 2004, right after the company went public.
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