‘Didn’t Need More Incentive’: Jeff Bezos On Forgoing Extra Pay At Amazon | Business News

Jeff Bezos founder of Amazon. (File photo: Getty)

Amazon founder Jeff Bezos once revealed that he never accepted additional compensation during his tenure as CEO, saying he was proud of his decision to forgo stock grants and bonuses despite leading one of the world’s most valuable companies. Speaking at the 2024 New York Times DealBook Summit, Bezos recalled asking the Amazon board “not to give me any comp,” pointing out that his substantial ownership stake was already incentive enough. “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 said. Bezos reportedly drew an annual salary of only $80,000 while heading the company.

A founder’s philosophy on wealth

Bezos described his stance as typical of owner-operators, noting that founders grow their wealth primarily through the rising value of their equity rather than bigger paychecks. “I just would have felt icky about it. And I’m actually very proud of that decision,” he said. He also proposed a different way to measure success—by the wealth created for others, not personal net worth. Highlighting Amazon’s $2.3 trillion market capitalization, Bezos estimated he had created “something like $2.1 trillion of wealth for other people,” suggesting that such a measure would make a “better list” than Forbes’ billionaire rankings.

A Silicon Valley trend

Bezos’ approach puts him in the company of other tech leaders who opted for symbolic or minimal salaries. Meta CEO Mark Zuckerberg, following the precedent set by Apple’s Steve Jobs, has drawn just $1 a year in salary since 2013. Warren Buffett, chairman of Berkshire Hathaway, has long limited his pay to a flat $100,000 without stock-based bonuses. These choices reflect a broader Silicon Valley ethos—that true leadership lies in value creation, not personal enrichment.