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TIP601: Junk to Gold by Billionaire Willis Johnson
We Study Billionaires - The Investor’s Podcast Network
The story of Jay Adair's compensation and Willis Johnson's legacy
Jay Adair, the CEO, receives a symbolic $1 salary but earns additional stock-based compensation. The company's proxy statement highlights his compensation based on long-term business results. In the book, Adair, who is Willis Johnson's son-in-law, praises Johnson's success in building a multi-billion dollar business from a single auto scrapyard. Johnson emphasized the value of hard work and treating people right, and is known for sayings such as 'Take care of the company, and it will take care of you' and 'Watch your pennies, and your dollars will take care of themselves.'
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