Complex sentence: The mayor is entitled to a salary of $225,000, but early 21st century mayor Michael Bloomberg, the 10th-richest man in the world, declined the salary and instead was paid $1 yearly.
Split into simpler sentences: The mayor is entitled to a salary of $225,000. Early-21st-century mayor Michael Bloomberg, one of the richest people in the world, declined the salary and instead was paid $1 yearly.