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Retirely in The things you own end up owning you,

Chinese tech tycoon cuts his annual salary to 15 cents. Apparently he got the idea from U.S. CEOs and will pretty much just make up for it with a $250 million annual bonus and stock option

The billionaire CEO of a hugely ambitious Chinese tech company has vowed to cut his annual salary to just 15 cents after acknowledging the business is running low on cash.

“No company has had such an experience of being caught in both ice and fire,” CEO Jia Yueting wrote in a long, flowery memo to employees this week. “We blindly sped ahead, overextended our global strategy and spent recklessly on expanding our business scale when our capital and resources were in fact limited.”