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April 13, 2005
"Bankrupt" Richter made $1.2M last year
Weep not for Spam King Scott Richter.
Sure, he's facing a $40M lawsuit from Microsoft that has driven his firm into bankruptcy. But, according to court records filed Monday and reviewed by the Denver Post, Richter paid himself a salary of over $1M in 2004.
Commenting on Richter's salary, father Steve told the Post: "Scott is obviously a very integral part of the company, and his compensation is commensurate with his contributions. It's in line with others in the industry."
Richter's company, OptinRealBig, grossed $19.6M last year. But its legal bills are mounting. According to the Post, the company spent over $500K on lawyers in just the first three months of 2005.
"Spamming is lucrative," concludes the Post article.
Posted by brian at April 13, 2005 09:30 AM
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