Jeff Bezos once revealed in an interview that he never needed more stock to stay motivated at Amazon.com and that asking for it would have felt "icky."

In a 2024 interview at The New York Times DealBook Summit, the Amazon founder said he asked the board's compensation committee "not to give me any comp," adding, "I already owned a significant amount of the company, and I just didn't feel good about taking more… I just felt how could I possibly need more incentive?"

He also noted he paid himself "about $80,000 per year" as CEO.

Bezos framed the stance as typical of owner-operators, stating that most founders "increase their wealth… by making the equity they have more valuable," and not by seeking more equity.

"I just would have felt icky about it. And I'm actually very proud of that decision," he said.

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He also argued the better scorecard isn't personal net worth but how much investors gained alongside him. "Somebody needs to make a list where they rank people by how much wealth they've created for other people… Amazon's market cap is $2.3 trillion today… I've created something like $2.1 trillion of wealth for other people," Bezos said, suggesting someone create a "better list" than Forbes.

Bezos's minimal cash pay fits a broader Silicon Valley pattern of modest salaries paired with large equity stakes. Mark Zuckerberg has drawn a $1 salary at Meta since 2013, which used to be the same amount Steve Jobs drew from Apple throughout his time at the company.

Warren Buffett, by contrast, has long taken a flat $100,000 salary at Berkshire Hathaway and no stock-based bonuses.

Those who echo Bezos’ view say founder frugality aligns incentives. Meanwhile, critics note that low salaries can be cosmetic when vast equity or other compensation is in play.

Photo: Lev Radin / Shutterstock.com

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