At a time when more than 30,000 employees across the world have been laid off this year already, the stress of receiving that dreadful mail or call must be impacting most of us, right??That is exactly why the story of 41-year-old techie who was laid off from Facebook in his early 20s, serves as an inspiration.
After being laid off by Facebook in his early career, Noah Kagan is now earning millions of dollars as the CEO and co-founder of his company AppSumo. He earns approximately $3.3 million a year (approx Rs 27.3 crore yearly).
The son of immigrant parents, 41-year-old Kagan had also worked with other tech giants such as Intel and Mint.com before he decided to use his experience and start his own tech company, as per CNBC report.
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"I never spent money," he said. "I would say even until I was about 40 did I really start enjoying money."
Growing up, Kagan was frugal with money but always dreamt of being rich. "As a kid, I always dreamed of being rich. I didn't know how to get it (money) or what to do to get it but I was like 'Man, I just want money," he said.
While millionaire Kagan's mother worked as a night nurse and his stepfather was a computer engineer, his father was an immigrant from Israel who did not speak English and made a living by selling copiers door-to-door.
"What I was taught and what I had seen on the news was that materialism was bad but through therapy, I started feeling more worthy (of spending the money)," he said, adding "That's when Kagan decided to switch to a better lifestyle. "It definitely makes me happier every single day."?
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Before going into detail about how he determines his own pay, Kagan disclosed that his company generated $80 million in gross sales in the previous year.?"The way I have always done my salary is that I pay myself relatively low. Historically, it's been around $200,000 in annual salary. And at the end of the year, after we have paid the team, after we have taken everyone out for an all-expenses-paid vacation and done other distributions to people in the company, then I take a profit share," he told CNBC Make It. "Last year, I took a $3 million profit share for my salary."
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