Here’s Why Jeff Bezos Only Paid Himself an $80,000 Salary From Amazon
Written by
Sarah Li Cain
Edited by
Amen Oyiboke
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
The name Jeff Bezos is synonymous with Amazon and as a multi-billionaire. Although he’s one of the richest people in the world, he’s only paid himself a salary of $80,000 for around 20 years, according to the New York Times.
When asked why during an interview by the New York Times, Bezos said that he “just didn’t feel good about taking more” money when he “already owned a significant amount of the company.”
He said in the interview that he felt that he had “plenty of incentive” since he owned more than 20% of Amazon and had gone down 10% since he started selling off his shares, and doesn’t need any more wealth.
Of course, as Amazon continues to remain profitable, his shares of Amazon keep increasing in value and are still making billions for him.
Bezos isn’t the only leader from a major corporation who has paid themselves a low salary. Here are a few.
Sergey Brin
The Google co-founder reportedly pays himself a paltry $1 annual salary since 2004, when Google went public. He earns more from Google since Brin owns millions of Class A shares, which are used to have an ownership stake in the company. He also has thousands of Class B shares (which still have some voting rights) from the tech giant.
Larry Ellison
The former CEO of Oracle has also paid himself a $1 annual salary, but owns around $90 million in stock options. Ellison also receives “other compensation” equally, around $5 million.
John Mackey
As the founder and former CEO of Whole Foods, he, too, earns $1 per year — it seems like a popular number. He has paid himself this amount since 2007. Due to his ownership in the grocery chain, he receives much higher compensation, not just through a salary.
Mark Zuckerberg
The co-founder and CEO of Facebook earns a higher salary than most on this list at $600,000. Yeah, that’s a big number to most of us, but in comparison to other CEOs and what Facebook itself brings in, it seems small by comparison.
In other words, some CEOs are getting paid multi-million-dollar salaries, while Zuckerberg is paid a fraction of that.
Richard Hayne
Hayne is the president and CEO of Urban Outfitters, a fast fashion and lifestyle chain with locations all over the world. He, too, has opted for a $1 per year salary. However, he technically earns more than his base salary, as he gets a $5,000 bonus and $1 million from a non-equity incentive plan participation.
What this means is that this compensation is based on Hayne’s performance at his job and is not at all tied to his salary. Meaning, he could still earn a significant amount of money in his role at Urban Outfitters, but not a steady amount.
More From GOBankingRates
