Bobruisk-born businessman to give up his gigantic Australian salary for a chance to get $35 million

As reported by Australian news service 7NEWS, Ruslan Kogan, founder and CEO of Australian company Kogan.com, wants to radically change his own compensation system, effectively making his future income dependent on the company's success.

Kogan plans to offer shareholders a new compensation scheme. He wants to give up an annual salary of about $585,000 and switch to the minimum wage in the country — about $35,000 per year. He promises to donate all his new salary to charity.

However, Kogan is driven not only by the desire to help others. Instead of a high salary, he wants to receive compensation in the form of company stock options. Such a scheme means that the executive can receive shares for free if certain financial indicators are met.

In Kogan's case, the condition is as follows: within five years, he must double the value of his company's shares. Only then will he be able to exercise his rights to receive them. If he succeeds, the potential reward will exceed $35 million.

Kogan's new compensation scheme still needs to be approved by the company's shareholders. According to the company's announcement, an extraordinary meeting is scheduled for October 22, 2026.

Kogan himself explains his idea by the desire to make his personal financial success directly dependent on the success of investors.

Born in Bobruisk, grew up in Australia

Ruslan Kogan was born in 1982 in Bobruisk. In June 1989, the boy, along with his parents and sister Svetlana, emigrated to Australia.

Павялічыць

His father, who worked as an engineer and managed large projects in his homeland, was forced to deliver pizzas, trade in the market, and work in a sponge factory. His mother, who had a medical education, cleaned cafes and worked as a waitress.

The family arrived in Australia with only $90 and almost no knowledge of English. Initially, the Kogans stayed with relatives in Melbourne, and later received an apartment in social housing in one of the city's suburbs.

Even in childhood, Ruslan became fascinated with technology and entrepreneurship. At the age of nine, he assembled his first computer from inexpensive parts and also began to earn money by selling lost golf balls. The boy collected them on the local course, washed them, arranged them in egg cartons, and sold them to players for 50 cents. On weekends, according to him, he managed to earn up to $14, which was mostly spent on sweets.

Павялічыць

In 2004, Kogan graduated from Monash University with a degree in business systems. Afterwards, he worked at Bosch, General Electric, Telstra, and the consulting firm Accenture.

But in 2006, at the age of 23, the young man left his stable job and founded an online store in his parents' garage. As Ruslan recalls, his mother was very upset when he decided to leave his stable job and start his own business. By then, her son was following exactly the life path she wanted for him.

Kogan decided to sell electronics online, purchasing them directly from manufacturers. This allowed him to avoid the costs of maintaining traditional stores and offer lower prices to buyers. He started by selling only two models of LCD TVs.

The business grew rapidly. In its third year of operation, Kogan.com's sales reached $2.1 million, in its fifth — $15 million, and in its seventh, they exceeded $138 million. In 2011-2012, Ruslan Kogan was named the richest person in Australia under 30. In 2016, his company was listed on the Australian Stock Exchange.

Today, it is no longer just an online electronics store, but a group of retail and digital services. It works with various product categories and offers services in mobile communications, internet, insurance, and other areas. In the financial year ended June 30, 2026, the group's gross sales exceeded $690 million — 12% more than the previous year.

Ruslan Kogan lives in Melbourne with his wife Anastasia. The couple has three children: two daughters and a son.

Despite his multimillion-dollar fortune, Kogan doesn't like to spend unnecessary money. He recently posted a video on LinkedIn from a hotel bathroom, where he was washing his own clothes.

"I just can't bring myself to pay $20 for washing a T-shirt that costs $10," the businessman explained.

He attributes his frugality to his childhood and his parents, who had to count every dollar after moving from Belarus.

Meanwhile, as Kogan admitted, even after visiting expensive restaurants, what he misses most is his mother Irina's home cooking. His favorite dishes are chicken soup, cutlets, buckwheat, Olivier salad, and blini that she prepares.

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