$1 Tech Executives: Who Said Corporations Are Pyramids?
Here’s an article from CNN Money detailing tech executives who make just $1 in annual salary.
- Steve Jobs: The former CEO of Apple had a $1 annual salary from 1997 to his death in 2011.
- Benjamin Feder and Karl Slatoff: CEO and COO of video game company Take Two Interactive.
- Meg Whitman: The new CEO of HP takes home just $1.
- Larry Ellison: The top dog at Oracle takes (to his many homes) $1/year.
- Larry Page, Sergey Brin, and Eric Schmidt: The former leadership triumvirate at Google have been bringing home the bacon, just $1, each year.
- Charles Ergen: EchoStar’s chairman (and former owner of the Dish Network) also makes $1/year.
When faced with the criticism that they are involved in a pyramid scheme, MLM-proponents frequently like to harp about how jobs and corporations are pyramids. What would they say to these examples? Considering just salary, the janitor at one of these tech companies makes more money than the CEO!
Of course, these individuals have received other forms of compensation for their hard work. Whitman, for instance, does have a big bonus and pile of stock waiting for her if she can turnaround HP. The Google leaders have plenty of stock. Ellison gets huge cash bonuses, stock options, and a security detail.
What would MLM proponents say now? Would it be something to the effect of:
But, but, but… those people are exceptions to the rule!
If so, that’s a very interesting response. What about the people who make it big in MLM? Aren’t they the exceptions to the rules as well? It’s been mathematically proven that MLMs like MonaVie and LIFE have a very poor financial success rate. There’s only a few people at the top, and they make drastically more money than the distributor at the bottom of the organization.