Bank Zero founders did not pay themselves a salary for a decade

[Bianke Neethling]

Bank Zero founders did not pay themselves a salary for a decade

Bank Zero’s founders chose not to pay themselves upfront for nearly a decade until the bank broke even.

 

[Sideshow Bob]

Can we raise backabuddy for them ? To put bread & butter on the table ?

 

[ToxicBunny]

Shame, must suck to have enough money to not "take a salary" for a decade, and then profit big time when you sell the entity.

 

[Smiggles]

They didn't pay any UI designers either...

 

[KulQkumba]

Shame, must suck to have enough money to not "take a salary" for a decade, and then profit big time when you sell the entity.

I don't think any of them (with the exception of Michael Jordaan) were wealthy enough to do that.
All had "side-hustles" while they established Bank Zero and IMHO the whole point was to sell once set up....delayed gratification for equity kinda thing

 

[gregmcc]

Bank Zero was launched to the public in October 2021

Bank Zero founders did not pay themselves a salary for a decade

Que?! What am I missing.

Even if you take the founded date of 2018, it's still not a decade. 30% maths?

BTW You did the same article last year:

The South Africans who launched a bank and didn’t pay themselves salaries for 9 years

Bank Zero’s founders built the bank over the better part of a decade without any of them drawing a salary and working side hustles to keep themselves afloat.

mybroadband.co.za

Are we going to have another one next year?

 

[ToxicBunny]

I don't think any of them (with the exception of Michael Jordaan) were wealthy enough to do that.
All had "side-hustles" while they established Bank Zero and IMHO the whole point was to sell once set up....delayed gratification for equity kinda thing

Dunno about the others tbh, but yeah they would all (except maybe Mike) have had side hustles that were significantly lucrative enough.

 

[Napalm2880]

They didn't pay any UI designers either...
View attachment 1940721

The colours are bad. The contrast is bad, and the layout is horrendous. Honestly, I've seen a better UI on a mainframe.

 

[Sensorei]

I don't think any of them (with the exception of Michael Jordaan) were wealthy enough to do that.
All had "side-hustles" while they established Bank Zero and IMHO the whole point was to sell once set up....delayed gratification for equity kinda thing

All co-founders except except David Longe (the software dev brains) were top banking executive ex-colleagues of Jordaan. Certainly the cream of the crop. It must be amazing to have access to the best candidates when you have a startup idea.