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March 6, 2007
MOUNTAIN VIEW, Calif. (AP) — The three billionaires who run online search leader Google Inc. will settle for a $1 salary again this year while four other top executives will receive raises of $200,000 apiece, according to documents filed Monday.
It marks the third consecutive year that Google Chief Executive Eric Schmidt and co-founders Larry Page and Sergey Brin have limited their salaries to a $1. It's a sacrifice that they can afford because they have gotten rich off their large stakes in Google, whose stock price has more than quintupled from its initial offering price of $85 in August 2004.
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