Image by Brian Solis | Wikimedia
Facebook Chief Executive Mark Zuckerberg reaped a total of $3.3 billion last year by selling shares of the social networking company that he founded, according to a regulatory filing with the US Securities and Exchange Commission.
$1-a-year salary club
Zuckerberg is following the path of other technology moguls who chose to take the annual salary of $1 after they were already wealthy. He owns Facebook shares that give him voting power.
Even though he limited his salary to just $1, he was given 60 million shares to help him with his tax bill.
Zuckerberg now has exhausted his supply of stock options after the public offering.
Gain from stock options
Zuckerberg’s total compensation last year was $653, 165, which is lower from $1,99 million in 2012.
The amount was for the passenger fees, fuel, and crew costs for his use of private planes, which is part of his personal security.
The company said Zuckerberg would use most of the proceeds to pay taxes in relation with the transaction.