jackpot

Jaiku founder buys bride-to-be a bespoke Issey Miyake dress

Owen Thomas · 01/29/08 12:35AM

For the fiancées of ambitious founders, there's a new metric of wealth for their future spouses to live up to: "I don't want you to sell unless you can make Miyake money." That's the amount Google apparently laid out for Jaiku, the Euro rival of Twitter. The exact purchase price hasn't been disclosed yet. But Jyri Engeström just announced that he and his bride-to-be Ulla-Maaria Mutanen are in Tokyo, getting her wedding dress personally fitted by famed designer Issey Miyake. (Girls, note this: She proposed to him.)

New Cisco CFO disdains stock options

Owen Thomas · 01/23/08 08:56PM

Frank Calderoni, as expected, has risen to become Cisco's CFO, after the previous CFO's retirement. A document filed with the SEC reveals that among other compensation, Calderoni will receive 75,000 units of restricted stock, currently worth $1.8 million. Unlike stock options, which are worthless if the stock falls below their exercise price, restricted stock is earned even if the stock falls. Telling, I think, that Cisco's top finance executive doesn't want to make a big bet on the stock. (A side note: I found Calderoni's photo on a curiously named website: tools.cisco.com. Good to know Cisco believes in full disclosure!.)

How much money did Matt Mullenweg make?

Owen Thomas · 01/23/08 03:22PM

Automattic has been tight-lipped about how much of the blog software maker's $29.5 million financing round went into the pockets of founder Matt Mullenweg. In November, TechCrunch said that "most" of a new round would go to buy out Mullenweg and other shareholders, in an effort to dissuade them from selling the company. To the Wall Street Journal, Automattic only conceded that "some" money went to the founders. But Mullenweg himself has not been so coy.

Domain king cashes $750,000 check for $70 domain

Nicholas Carlson · 01/17/08 07:00PM

Rick Schwartz just sold CNN the domain iReport.com for $750,000. Schwartz bought the domain in 1997 for "$70 to $100," he told Silicon Alley Insider. CNN likely bought the domain for its I-Report program. You know, the one where You The Viewer get to do all the work. A concept which jibes just so nicely with Schwartz's latest post on his personal blog.

Google masseuse reflects on nothing

Owen Thomas · 01/15/08 05:58PM

You'd think the tale of Bonnie Brown, the woman who made millions swapping massages for Google stock, would make for interesting reading. In a Huffington Post blog entry, Brown manages to spend 451 words telling us that she dislikes being famous and didn't know what the word "gumption" meant until she encountered it in a movie starring Kate Winslet. Brown has a book out called "Giigle." Are you thinking it sounds skippable? Consider yourself lucky already.

Mark Zuckerberg cashes out?

Owen Thomas · 12/08/07 01:58AM

Venture capital's ancien régime is on the verge of being overturned. We hear Mark Zuckerberg, the founder of Facebook, may have cashed out — before an IPO, before a sale, and before his investors. In the company's recent financing round, insiders believe, he sold about $40 million worth of stock. A tiny portion of his $5 billion stake, but in cash rather than on paper, and "enough that he never has to think about money for the rest of his life," says a person made privy to details of the sale. On the Sand Hill Road of old, this is simply not how things are done.

Megan McCarthy · 11/29/07 08:47PM

Google's board members don't get paid cash for their duties, but they do receive Google stock. Intel CEO Paul Otellini has made over $22 million for fulfilling 48 "board-related activities" — shuffleboard, canasta? Google filings don't specify — since he became a director in 2004. [Docu-Drama]

Megan McCarthy · 11/20/07 06:01PM

Larry Ellison has sold off 1 million shares of Oracle every day since late September. Over the last two months, he's cashed out over $707 million. He's on track to liquidate over a billion dollars worth of stock this year. [Docu-Drama]

How much is Gore going to give away?

Megan McCarthy · 11/13/07 06:39PM

When Kleiner Perkins announced former Vice President Al Gore would join the VC firm as a partner, there was a sweet little tidbit: Gore would be donating all of his VC salary to some envirohippie charity. But, as PE Week points out, VCs don't make most of their money off their salaries, making their fortunes instead on "carried interest" — a share in the profits from their investments — and management fees. So will the wedding-skipping future Sand Hill denizen be donating those monies, too? Keep in mind, he's not hurting for cash. A Kleiner spokesperson dodged the question, and Gore's office has yet to weigh in.

Mozilla chief makes $500,000-plus a year

Paul Boutin · 11/13/07 02:45PM

Mitchell Baker, who joined Netscape in 1994 and now serves as both chairwoman of the nonprofit Mozilla Foundation and CEO of the for-profit Mozilla Corporation, clocks over a half million in annual salary and benefits, according to a New York Times report. That's more than the $285,000 the foundation, which holds $74 million in assets, says it gave away in grants in 2006. Baker correctly points out that $500K is less than most major Valley CEOs make. I'm pretty sure Wall Street Journal gadget reviewer Walt Mossberg pulls in more. Still, the next time one of you bright-eyed kids writes in to say I owe it to the community to blog up Mozilla and advocate open-source projects? I already gave at the office. (Photo by Jeff Carlick/Bloomberg News)

Googlers are still richer than you, but Facebookers sneer

Megan McCarthy · 11/12/07 08:00PM

Another day, another story about how early employees at Google are richer than you'll ever be. Meet Bonnie Brown, Google's first masseuse, hired in 1999 for $450 a week and a "pile of Google stock options." Retired after five years of getting hands-on with engineers, she now spends her days with her private Pilates instructor, traveling for her charitable organization and watching her pile of money grow to absurd heights. And she looks so smug and happy in that picture, doesn't she?

Al Gore's Tennessee tax trick

Owen Thomas · 11/12/07 03:07PM

Does Al Gore's accountant choose the site of his magazine photo shoots? As we noted, Gore should be making much more use of his San Francisco condo now that he's a partner at Kleiner Perkins. But the Fortune article which broke the news of his hire lensed him in his Nashville, Tennessee home. Granted, I'm sure the Nashville manse is more filled with greenery than the St. Regis highrise, making it a better backdrop for Gore's new career as an environmental profiteer. That's not the only reason it's good for his image, though.

The billionaire chat show

Owen Thomas · 11/06/07 08:59PM


YouTube cofounders Chad Hurley and Steve Chen went on Oprah today. Most of it was eminently skippable pap, the kind Hurley and Chen have been trained by Google PR to recite. But the money shot? Well, it was when Winfrey, who's worth $1.5 billion, asked Hurley and Chen whether Google's $1.65 billion purchase of YouTube had changed their lives. Oh, no, the pair demurred. They don't think about money. They were much too busy working on new features. And going on Oprah.

Micron CEO slashes pay to $8.6 million

Jordan Golson · 11/06/07 08:47PM

Micron, a memory-chip manufacturer, had a bad year. The company lost millions of dollars and laid off over 1,000 employees. Because of this, CEO Steve Appleton turned down his yearly bonus. Extraordinary? Perhaps. We suspect he'll do alright. He made $8.6 million from his base pay, stock awards and retirement package. That would be plenty of money to live comfortably in Silicon Valley — and it's a fortune in Idaho, where Micron is headquartered.

Googlers are richer than you

Megan McCarthy · 11/06/07 03:49PM

If the typical Googler hired in 2003 exercised all of his options and held onto the shares, they would now be worth almost $8 million, writes Wendy Tanaka in a Forbes article on stinking-rich Googlionaires, ex-Google employees who were at the right place at the right time. And those Googlers worth $8 million? The regular, workaday ones. Add a few zeros behind that number to get to executive-level compensation. Sergey and Larry have sold more than $2 billion worth of stock. Sales head Omid Kordestani and CEO Eric Schmidt both have more than $1 billion in the bank from their Google stock sales, which should leave them enough cash to use for their extracurricular activities. And what do rank-and-file Googlers do with their extra spending money?

Apple SVP made $112 million yesterday and you didn't

Jordan Golson · 10/31/07 03:46PM

Ron Johnson, Apple's senior VP of retail, exercised options for 700,000 shares of AAPL at a strike price of $23.72 yesterday. He sold later in the day at around $185. That's a net of over $112 million. Not a bad payday, but he certainly earned it. Johnson has led Apple's retail strategy from day one — and the former Target executive is arguably more responsible for Apple's retail success than Steve Jobs.

Larry Ellison can buy Facebook without breaking a sweat

Jordan Golson · 10/31/07 03:33PM

Oracle CEO Larry Ellison (who recently quit his fake blog) has sold more than $500 million in Oracle stock in the past month — and is planning to sell 100 million shares worth $2.16 billion at current prices in total. Ellison, who is much richer than you, will own 1.17 billion shares — 22.7 percent of the company's total — at the end of this period of "asset diversification and liquidity." Executives frequently arrange sales months in advance, under "scheduled trading plans," to avoid insider trading accusations. ORCL is up 28 percent year to date. Forbes pegs Ellison's current net worth at $26 billion. (Photo by AP/Bernat Armangue)