In this Forbes magazine article from almost four years ago they discuss Mark Zuckerberg's Income.
Facebook founder and CEO Mark Zuckerberg is now the company's lowest-paid employee, according to its latest proxy filing. Zuckerberg -- worth $27.8 billion mostly in Facebook stock -- requested an annual wage of $1 in 2013, joining the ranks of a handful of other very wealthy CEOs who take a symbolically negligible base pay.
Meanwhile since that article was posted his net worth has more than doubled to over $69 billion. You may wonder how he has been able to achieve this ... his wife is very frugal. Can you imagine the two of them lined up in the grocery checkout with handfuls of coupons to reduce their bill. Fine ... they send the servants with the coupons and the security guards to carry the bags of groceries.
The reality is that that if he took all of his money and put it in a savings account @ 1 percent interest (like most of my parents' generation do) his monthly income would be $fifty-seven million five hundred thousand (almost $2 million per day).
I don't begrudge Mr Z his $1 per year. He has skills in areas that far surpass mine. However it does give us a wake up call in the STEEM community. His income is based on the content and the networking skills of the people on facebook.
Keep up the good fight STEEMIANS.
He is a very intelligent and admirable person, he has success in his hands and will continue to grow.
I don't know him personally but I cannot describe him admirable based of his acquisition of property in Hawaii. He bought 700 acres of land but his property surrounds holdings owned by original Hawaiian land owners. He put a big fence around his property which also prevents these owners from being able to access their traditional farms.
Imagine that your family owned a plot of land for generations and a neighbour bought all there properties around your land to encircle it. Then put a fence around everything so you could access this property. Even if he gives a "fair" value for the property (millions of dollars) it isn't something that I would call admirable.
I really didn't know anything about it and I really agree with you that land is bad because some of it is an inheritance and its owners don't want to sell it.
Greetings friend
I didn't know your income was $1.
In Canada there is a basic exemption of $11,635. This is the amount that you can earn before attracting income tax. I don't know how I feel about the $1. Is it symbolic or a slap in the face.
I don't begrudge paying my fair share of tax but businesses probably should share more of the burden. For instance Amazon has revenues of 177.9 billion. How much do they contribute to maintain the highways that are used to deliver their products. Also there is an issue of how the taxes are allocated. We have the technology that allows an individual to specify which programs they would like their money to go to and have it traceable on a public ledger.
Do you live in Canada? It's a good country.
The reality of this is that taxes must be paid according to the law, and if it is a crazy question amazon and other virtual companies contribute to a country? is something I have to ask myself.
I'll do a little more research on the subject.
https://gizmodo.com/amazon-just-got-nailed-for-allegedly-evading-300-milli-1819128919
As far as I can see amazon hid part of his net income in order to lower his taxes, but he is already accused of tax evasion so that is a crime.
Thank you for sending me the information, it was very useful, today I learned something new
Actually Zuckerberg is Facebook. It is once all businesses reach a certain level, there are ways to disguise profits.
I understand very well they evade taxes to leave without paying what they have to pay, but they can leave with fines.