Owning shares doesn't mean he's assumed risk. He didn't spend real money to acquire those shares like all the other shareholders. If the stock went to zero how much "invested" money would he lose. Zero.
Just the fact that he's seen his shares as high .50 a few years proves he's not all that concerned about it.
Every pinky CEO owns some shares. Maybe once in a never you'll here about one actually buying his own stock on the open market.