CEOs Run Cheap
in Silicon Valley

In stark contrast to most corporate execs, Google CEO Eric Schmidt and cofounders Larry Page and Sergey Brin will each receive a $1 annual salary for 2007, writes CNNMoney.com, citing Google regulatory filings.

The three Google execs first requested the radical salary reduction during the second quarter of 2004, just prior to the company's going public in August of that year. All three own large chunks of Google stock: together, more than $33 billion worth.

Both Yahoo chairman Terry Semel and Apple's Steve Jobs are also getting $1 paychecks for the year.