Why would rich powerful men like Eric Schmidt set their salaries at $1 ?

Question

So, could it be that since most of their earnings come from stock, they would rather use their salary for that ? And in some smart loophole way avoid as heavy an income tax ? Or what is the general trick ?

Answer 1

No tricks.  I don't know why his salary is set at $1 though.  The lowest paid CEO/CFO before this that I've ever heard of was @$60,000 I wish I could remember the guys name.

When someone reaches upper management they are usually offered stock options.  So he gets stocks in his company for dirt cheap and if the company is doing well he can obviously sell those stocks at a profit.

Don't over think this too much google is selling at $543.91 a share.

Answer 2

IT'S NO TRICK THEY JUST DON'T NEED THE MONEY YOU ARE THINKING TOO MUCH

NYC MAYOR DOES THE SAME THING