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Big raise or biggest raise ever? I’m sure you could find an example of someone’s pay scale getting bumped up at an even higher rate, but moving from what was once a $1 salary to a $1.25 million salary is quite the impressive leap. With his shift from CEO to executive chairman, Schmidt also stands to earn a $6 million annual bonus.
In case you were still concerned about Eric Schmidt not earning his due amount for the work he has put in, don’t forget the man owns Google stock valued at some $4.8 billion. We doubt he is really strapped for the cash.
[via AllThingsD]
Really? LOL
There is almost no middle class, and America is getting poorer and poorer, yet we still can find ways to give a guy $1.25 million dollars more a year. Wow we have our priorities all fucked up.
So its his fault that he earned the position and is earning what he makes? I mean come on if you want to make the big bucks go to school further your education but dont bitch because someone else did and you or others choose not to.
So he is also an “accidental billionaire”? Is he really that unique that he alone was capable of managing the company? I think there are thousands (or more) of others equally capable. We live in a world of fools willing to way overcompensate gamblers to take a crack at running a company. And yes, luck has a lot to do with it.
Well then why don’t you try to get one of these positions if you think pretty much anyone can run a company. smh
Google is one of the largest companies around. I assure you there are not thousands of men like Eric Schmidt.
Schmidt is in a league of his own. You know who else plays in that league? Men like Bill Gates, and Steve Jobs, and that’s about it.
Although, Bill Gates is giving all his cash away, and Steve Jobs only takes a $1 salary…
actually, going to school wont promise anything. using your brain and knowing the right people will get you there.
Get a little education yourself, “do no evil” right?http://www.bloomberg.com/news/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes.html
Stop being a sheep and just saying “but its capitalism!” … ignorance is bliss.
I suppose the government should take some and give it to you? Get off your lazy end and get a job.
You don’t like him getting a 1.25M Dollar raise then stop Googling and buying Androids. You may shave 75 cents a year off of that.
This is Capitalism.
If you want everyone to be treated equally your going to have to move to Socialist country – EU.
Capitalism refers to any system in which the economy is based on the acquisition of capital and is not directly based on labor. Get your facts strait.
@wenjaman I have ever right to state my opinion before I graduate from high-school. Also what’s wrong with coffee shops?
That was my point. When you have an economic system based on the acquisition of capital, a corporation isn’t going to give away its capital to middle class. Instead the corporation would invest it’s capital into valuable idea/goods/individuals and so on, that will return more capital in the future.
Which is what the OP was whining about.
You are so incredibly stupid that I won’t even bother dignifying you with any form of a rebuttal.
Please grow up and graduate from highschool before you spout nonsense on the internet. That or stop being a latte sipping liberal and go do some real work.
EDIT: I am very liberal. I just despise the coffee shop frequenting liberals that whine about everything and don’t contribute to society.
Who is we? Google is a legal private, meaning not government owned, tax paying company and can pay their employees what ever they choose, be it $1.00 or 1 million dollars…seems your attitude is all fucked up. People in this country have a better opportunity to succeed than anywhere else. Would you rather be poor in America or poor in Libya? Poor in Mexico or poor in America? Poor in Afghanistan or poor in America? Poor in Darfur Sudan or Poor in America? In Most of those countries one will get tortured and killed for being the wrong color, or even the wrong shade of a color, some get killed for being the wrong religion. Bad attitudes and mindsets keep people poor. In America it’s the number one reason for poverty, but most people blame it on skin color, poor schools in the city, poor schools in the rural areas,or where they were raised, their daddy was poor, their dog was crippled, the moon shone in their eyes, or whatever problem they seem to have. many people in America and across the world have risen and struggled through great odds and started out with nothing to be wealthy and successful.
I couldn’t agree more; I have no problem that he’s getting a raise what I do have a problem with is that by being among the super rich he’s getting tax breaks. The rest of your arguments are fairly piss poor by the way, try doing research and seeing the world as it is not how the elite have trained you to see it; you’re like iSheep only worse.
No, just no….
Its not like Google employees dont get paid well. They also get many benefits. At least compared to other giant firms, this is not bad at all
I, for one, think he’s more than earned it.
He certainly has earned it….
http://www.bloomberg.com/news/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes.html
http://en.wikipedia.org/wiki/Double_Irish_Arrangement
wake up…
@thetreeone
First we did not give him a 1.25 million dollar raise, google did. As a publicly owned company, shareholders decide if he is worthy of that amount and they can voice their opposition if they choose. It’s called capitalism, he commands a certain value to the market and I would assume many companies would party him an even higher salary to advise their business.
Agree.
This is great, he’s finally going to pay taxes on what he earns. Kudos to him.
Look how big he made Google over the last 10years. IMO he may even deserve more.
lucky mofo
What about all the athletes and entertainers that make far more than that and contribute so little to society? He earned it….work hard and you can too. It’s America!
your america is changing buddy.
middle class shrinking, gap between rich and poor widening.
wake up
I’d much rather him get a big pay rise than the stupid bankers that caused all the mess in the last few years such as the £7.7m package that the tax payer owned RBS CEO got despite making a loss of £1bn.
Someone who spends day in and day out running a company deserves to be compensated for it. The people who don’t deserve it is Hollywood stars who can bank $20 mil for a couple months worth of first class pampering/having stunt doubles do the hard parts.
Hey, Eric……. can I borrow 5 dollas?
No, quit asking!
This mans job could be filled with a college grad for $100,000, with far superior results.
I’m all for people getting what they earn. I’m not saying he hasn’t. But part of me is upset at the idea of one person getting a raise that could last me 10 years. Yes this is America but since when is that an excuse to keep the low on the bottom and keep the top people above the rest?
No one is keeping anyone low besides themselves. If you want to get to the “top” then start working and stop asking someone else to pick you up for you.
Get over yourselves. It’s the way America works, there is no such thing as “the idle rich”. I will guarantee you that those who are “rich” and you so enviously point out, did not become so by being “idle”. Dare to say that they took full advantage of their opportunities, their intellect, and worked their freaking asses off. They, unlike most of the masses, actually made something of themselves…
Fair enough. To all of your comments. I have not done my homework on Google, should have done it before I posted. I just see that kind of money and wonder what better uses it could go to. I am sure Eric Schmidit would be fine with a whole lot less than that. Just saying…On another note, there is no reason to be so mean…what good is that going to do? Yes I should have done more homework, but the beautiful thing is about this country is my right to my opinion. And I still think that is allot of un necessary money to give too one person, I have a job, and I did go to college. It really is about who you know.
Well, you are free to send your paychecks elsewhere to where it will do more good, Im sure you could be happier with a lot less. no one will stop you and you will feel all warm and fuzzy for doing it. Just quit worrying about how others spend their own money. You should be more concerned how your tax dollars are spent.
Very well deserved! Great products .. no b.s like apple. So good job!
I applaud Mr, Schmidt 100% he held google down till now. With him around dealing with the high profile people of government and others google will always remain on top. He deserves every dime of his income.
I personally don’t give a **** what another man makes because its not my money if he earned it then so be it ill keep struggling at best buy for now with my worthless degree…just get my google products out on time eric!!