Following all of the hoopla surrounding Facebook’s IPO announcement comes this interesting nugget from Electronista:
The SEC filing behind Facebook’s long-expected IPO has seen company founder Mark Zuckerberg take an Apple cue in his pay. The CEO earlier this month requested that, as of the start of 2013, his base pay be cut from as much as $500,000 in 2011 to just $1, much like Apple co-creator Steve Jobs. Zuckerberg is known to have taken advice from Jobs and considered his success an aspirational goal.
Like Jobs, most of Zuckerberg’s value will come from his stake in the company. At 28.4 percent ownership, the executive is estimated to be worth about $25 billion. While the strategy has been used by other CEOs, the $1 salary is usually a sign of confidence as well as an incentive to make sure the company succeeds.