Mark Zuckerberg, the CEO and co-founder of Facebook, took home a salary of just $1 last year, a regulatory filing with the United States Securities and Exchange Commission reveals. This is a straight decline of his base salary of $503,205 in the year 2012.
By drawing a symbolic salary, Zuckerberg has joined the ranks of wealthy silicon valley tech bigwigs. The trend became popular after Steve Jobs started to draw symbolic salary and is also followed by Google’s co-founders. All of them have huge equity stakes in the companies they are running.
Zuckerberg owns a majority 61.6 percent shares in Facebook, the filing also reveals. Zuckerberg’s total wealth is estimated at $27 billion. He saw his net worth skyrocketing last year when the Facebook’s stock price doubled.
Mark Zuckerberg has also been recently attracted to philanthropy and donated 18 million of his Facebook shares to charity. He has also started an initiative Internet.org to bring internet to everyone on the face of earth.