MySpace To Tom: Twiddle Your Thumbs For $500K/Year

As MySpace continues to flounder they are asking co-founder Tom Anderson (the guy who is everyone’s first friend by default) to take on a new role as an “ambassador” to MySpace, but not without a significant pay cut.

Tom who was a reportedly getting $7.5 million/year from the contract he signed after he sold the social network to News Corp will now be getting $500k/year to basically keep his profile open and perhaps make a few announcements here and there. In other words, he will be paid to do nothing but be a figure head.

That’s a pretty sweet deal. However, it is nowhere near the kind of money he was earning before.  if MySpace keeps going in the direction they are heading towards currently Tom may want to find himself a new job that can continue to pay him well into the future.  I would not be surprised if Tom were to team up with Chris DeWolfe and start to work on a new project.

Better start twiddling those thumbs Tom.