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Ballmer and Gates get salary hikes | |
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| Time: 03:40 EST/08:40 GMT | News Source: News.com | Posted By: Byron Hinson | ||
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Microsoft Chief Executive Steve Ballmer and Chairman Bill Gates both received salary increases and bonuses this fiscal year, as the company weathered a challenging environment and its stock price outperformed the Nasdaq. Ballmer received a salary boost to $494,076 this year, a 15 percent increase over last year. But his cash bonus fell to $171,444, down from $200,000 last year. His total cash compensation reached $665,520 for the year. Gates, meanwhile, saw his salary increase to $494,992, up 13 percent from last year. But his cash bonus, as well, fell--to $171,762 this year from $200,000 last year. The salary gains and bonuses come as the software giant has outperformed the Nasdaq Computer Index and managed to keep its stock from entering a steep spiral that has engulfed so many tech companies. Microsoft managed to beat Wall Street's expectations and its own revenue expectations when it reported fourth-quarter results last July. | ||
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| #1 By 135 (209.180.28.6) at 9/28/2001 11:56:38 AM |
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It's kind of funny. So many executives in failing companies are receiving salaries of $10-20 million a year.
And these two men who head one of the nations most successful companies only make around half a million. Granted, they're already wealthy from their stock holdings, but still. The reason they have the stock is because they founded the company, stuck with it, and directed it towards success. |
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