Forum Moderators: goodroi
Google Inc. co-founders Sergey Brin and Larry Page each took home their customary $1 annual salary again in 2007, while a steep decline in the company's stock price chopped more than $8.5 billion from each of their massive holdings of Google shares, according to a regulatory filing Tuesday.Brin, 34, the company's president of technology, and Page, 35, president of products, took the hits to their multibillion-dollar fortunes as shares of the Internet search leader plunged over the past five months on disappointing fourth-quarter earnings and fears the company can't sustain its torrid growth.
At the stock's November peak, Brin and Page each held more than $21 billion worth. Now that the stock is trading below $500 - it lost $9.78, or 2%, to close at $450.78 on Tuesday - Brin and Page each now hold around $13 billion worth.
Oh well, give or take 8 billion, no big deal. Wow, those numbers are just somewhat difficult for me to fathom. I guess I'll know once I reach that point. Can you imagine taking an $8 billion dollar hit in a few months? Yikes!
Can you imagine taking an $8 billion dollar hit in a few months?
Well, they worked pretty hard for almost 10 years, so over that period of time it's just 1 bln per year - not that much considering level of success of their product.
