Tuesday, January 18, 2011

If you were CEO, would $1 be enough in salary?

What is your motivation to be an entrepreneur and start a business? Is it money? Success? Building a legacy?

When you've created the business and it begins it's rise to success, how do you know what to pay yourself? Are you like most people and pay yourself what the many salary calculators say you should be paid? For some it's simply easier to pay themselves what it costs to live on the daily. Would you be surprised to know that some of our favorite and richest CEO's surprisingly pay themselves a pauper's salary...if that?

Loose Change by Brad Pictures, Images and Photos

I recently read an article in Investor Place about CEO's who pay themselves a surprisingly low salary. CEO's like Steve Jobs of Apple and John Mackey of Whole Foods each pay themselves a meager $1 in salary from their companies.

Now you may be thinking to yourself, "how is that even possible? These men are worth BILLIONS!" I read somewhere that although Steve Jobs only pays himself $1 through Apple, he receives at least $43 million dollars a year through his investments. The $1 keeps him in a lower tax bracket.

Even more interesting is that the CEO's who pay themselves too much are the same one's that have companies that are constantly getting negative press and government intrusion. #thinkaboutit

When you stop worrying about money and how much of it you are going to make or want to make...some kind of way money seems to manifest itself to you. When you go through life following your destined path and accomplishing your goals/ dreams, it might not always be the smoothest path but it ends up being the clearest.

Check out the full article "5 Elite CEO Salaries Getting Paid Peanuts" by Jim Woods of Investor Place.

The Unemployed [but Frugal] Entrepreneur

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