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A Fix For The Severe Linux Performance Regression Spotted By Torvalds
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Originally posted by sophisticles View Post
Here is the actual filing from 2022:
Since 2013, the IRS has released data culled from millions of nonprofit tax filings. Use this database to find organizations and see details like their executive compensation, revenue and expenses, as well as download tax filings going back as far as 2001.
Since 2013, the IRS has released data culled from millions of nonprofit tax filings. Use this database to find organizations and see details like their executive compensation, revenue and expenses, as well as download tax filings going back as far as 2001.
Linux holds the title of Chief Financial Officer and get paid $700,331 under "reportable compensation from the corporation" and $1,044,650 under "estimated amount of other compensation".
That's 1.7 million dollars in 2022.
The "rumors" come from the official tax filing that the Linux Foundation files every year.
So yes the idea that he "basically owns The Linux Foundation" is nothing mere than unsubstantiated rumours still.
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Originally posted by F.Ultra View PostWhere did you get CFO from (the CFO is Stephanie Wigle Haddow)? Every single post in their tax returns marks him as "Fellow" and nothing more. And the $1M is, as you can see under the heading, deferred for retirement so that is not money he have access to now but that is instead put away for his future retirement.
So yes the idea that he "basically owns The Linux Foundation" is nothing mere than unsubstantiated rumours still.
Regarding the compensation, read the form carefully, the 700k is listed under "Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)" and the million bucks is listed under "Estimated amount of other compensation from the organization and related organizations", where do you see the word "retirement"?
But for the sake of argument, let's say the million bucks is put in a retirement account, he is still earning 1.7 million year.
You can put up to 19 grand a year into a retirement account tax free (until you start drawing it) and putting large sums of money into a retirement account is a known strategy to make yourself judgement proof. OJ Simpson famously avoided paying that judgement for killing those people because all his money was put into a retirement account before he was sued.
And if you need, you can always take out up to 50% of the amount in the retirement account as a loan to yourself.
So i don't think that extra million is for retirement, but even if it is, he's still making 1.7 million a year.
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Originally posted by sophisticles View Post
You are correct, i looked at the line above his name that said CFO, not realizing it was referring to Stephanie.
Regarding the compensation, read the form carefully, the 700k is listed under "Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)" and the million bucks is listed under "Estimated amount of other compensation from the organization and related organizations", where do you see the word "retirement"?
But for the sake of argument, let's say the million bucks is put in a retirement account, he is still earning 1.7 million year.
You can put up to 19 grand a year into a retirement account tax free (until you start drawing it) and putting large sums of money into a retirement account is a known strategy to make yourself judgement proof. OJ Simpson famously avoided paying that judgement for killing those people because all his money was put into a retirement account before he was sued.
And if you need, you can always take out up to 50% of the amount in the retirement account as a loan to yourself.
So i don't think that extra million is for retirement, but even if it is, he's still making 1.7 million a year.
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Originally posted by F.Ultra View PostThere is a more detailed breakdown a bit down in their tax returns where the heading for this is "(C) Retirement and other deferred compensation​" and that contains the $1M. Now I don't know about the US but over here in most parts of Europe you never count the part that is put away for your retirement as part of you salary, most people don't even know what their numbers are (since it's something the employer pays directly to the state and not to you directly).
For instance, at a company I used to work you were allowed to put up to 9% of your salary pre-tax into the company 401k every pay check and the company would make matching contributions up to 50% of what you contributed.
Other companies would match 100% of your contributions up to 9% of your salary.
Then you have how long before the money is vested, i.e. yours, some companies the money is vested day one, other companies after a 90 trial period, other companies after 1 year of service.
But here's the practical reality, if you are offer two jobs, they both pay the same, say 100k a year, the first job will deposit 10k a year into a retirement account for you and the other will deposit 100k a year for you.
Which job do you take?
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Originally posted by sophisticles View Post
In the United States you do not count money contributed to a 401k retirement account as part of the salary normally, but there are numerous nuances.
For instance, at a company I used to work you were allowed to put up to 9% of your salary pre-tax into the company 401k every pay check and the company would make matching contributions up to 50% of what you contributed.
Other companies would match 100% of your contributions up to 9% of your salary.
Then you have how long before the money is vested, i.e. yours, some companies the money is vested day one, other companies after a 90 trial period, other companies after 1 year of service.
But here's the practical reality, if you are offer two jobs, they both pay the same, say 100k a year, the first job will deposit 10k a year into a retirement account for you and the other will deposit 100k a year for you.
Which job do you take?
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Originally posted by F.Ultra View Post
Over here there is a separation between those two, every employer is forced by law to pay a certain percentage of your salary to the government retirement fund and that is part of the "social fees" paid by the employer that most people don't see since they are seldom reported on your salary/tax reports. But then most companies also pay extra somewhat similar to a 401k (usually mandated by the labour union agreements) that you also can pay privately to if you choose, but never heard about companies matching your investment.
When you start looking at some of the union jobs, like civil service, police, fire, etc, that's when it gets really crazy because you start also getting the pension plans that can be very lucrative.
This is why the claim Linus "only" makes 700k a year is misleading, that extra million bucks is his money, and the way 401k work or private IRA, you invest invest the money into various money market funds or you can even buy stocks, bonds. treasury bills, a million dollars a year principle can easily turn into the estimated 50 million that he is reportedly worth.
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Originally posted by smitty3268 View Post
There's not much sun in Oregon during the winters (about 25% of what they get in summer), although of course he could buy tons of extra panels if he wanted to.
But skipping a week like this isn't a big deal to anyone. He's done it before based on holidays or vacations, and nobody cares. Doing it because of a storm doesn't matter to anyone either.Last edited by cj.wijtmans; 16 January 2024, 10:25 AM.
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