|
For the past few years, Steve Jobs, was paid a salary of...
|
View this Thread in Original format
| starsearcher |
$1/year :eyespop: :eyespop: :eyes: :eyes: :wtf:
Mind you he is also the CEO of Pixar Animation Studios Inc. and has A LOT of stock options...wow...talk about corporate social responsibility and being passionate about your company! 
| quote: | Apple CEO Steve Jobs Again Gets $1 Salary for 2004
35 minutes ago
Technology - Reuters
SAN FRANCISCO (Reuters) - Steve Jobs (news - web sites), chief executive of Apple Computer Inc., was again paid $1 in salary and received no stock options or restricted stock for the company's fiscal 2004, a regulatory filing showed on Tuesday.
For years, Jobs, who co-founded Cupertino, California-based Apple, has taken a salary of $1. In March 2003, Jobs voluntarily canceled all of his outstanding options, excluding those granted to him in his capacity as director.
Fueled by the success of its iPod portable digital music player and stronger sales of some models of its signature Macintosh (news - web sites) computers, Apple's stock price surged 80 percent in fiscal 2004, which ended September 25 of that year.
Also in March 2003, the board granted Jobs 10 million restricted shares of Apple's common stock that will vest in full on the third anniversary of the grant date.
Apple employees, led by Jobs, in 2003 moved to swap out of stock options plans into new ones. Apple said Jobs' options exchange and the employee options program would reduce Apple's issued stock options as a percentage of total options and shares outstanding, known as stock-option overhang.
Jobs, who is also CEO of Pixar Animation Studios Inc., is the second-largest shareholder of Apple, holding 10.1 million shares, or 1.23 percent of the company's shares outstanding, according to Apple's annual proxy statement filed with the U.S. Securities and Exchange Commission (news - web sites).
Forbes magazine, in its annual list of the world's 400 richest people, ranked Jobs at No. 74, putting his estimated worth at $2.6 billion.
Since the end of Apple's fiscal 2004, the company's shares have nearly quadrupled. On February 11, the company set a 2-for-1 stock split, its first since 2000 at the height of technology boom.
It had an earlier stock split in 1987.
Apple shares rose 58 cents, or 1.4 percent, to $40.90 on Nasdaq at mid-afternoon. |
|
|
|
| big_charm |
heh..that's interesting. :rolleyes:
That's pretty wild getting paid $1/year ... something I wouldn't even dare to accept. Steve Jobbs is :crazy: |
|
|
| Mike_B |
| quote: | Originally posted by big_charm
heh..that's interesting. :rolleyes:
That's pretty wild getting paid $1/year ... something I wouldn't even dare to accept. Steve Jobbs is :crazy: |
he also has 2.6 billion dollars |
|
|
| LittlePoonzgirl |
| I'd take the $1 income if it meant I got 10 million restricted shares of Apple's common stock...is that all? |
|
|
| DigiNut |
When you're a billionaire you don't really need a high salary... just throw it in the bank and live off the interest. Even if you stuck it all in a 0.1% chequing account, $2.5 billion in the bank is $2.5 million a year, with a proper savings account you could probably squeeze out over $10 million.
I'd say that's not too bad a lifestyle. ;) |
|
|
| arek |
yea yea yea..
who cares. |
|
|
| karim |
So how would the government tax him if he's only making $1? Is this a loophole he's exploiting to keep those tax dollars in the company? Or simply a public relations scam?
:)
Karim |
|
|
| karim |
| quote: | Originally posted by DigiNut
When you're a billionaire you don't really need a high salary... just throw it in the bank and live off the interest. Even if you stuck it all in a 0.1% chequing account, $2.5 billion in the bank is $2.5 million a year, with a proper savings account you could probably squeeze out over $10 million.
I'd say that's not too bad a lifestyle. ;) |
His value is mostly made up of non liquid assets. Mainly stock he owns in Apple and Pixar. Problem with that is he cannot collect interest on it all, and they could lose their value too. You never know in this unpredictable world.
:)
Karim |
|
|
| starsearcher |
I think in a way this shows his passion for the success of the company. If his salary is only $1 and all he has is shares, then basically the performance of the company determines his financial success as well. Many CEOs have huge salaries but don't really care about the company...this is nice to see for a change.
And yeah I was wondering abotu taxes too :haha: :stongue: good point Karim - they can't tax him :stongue: |
|
|
| [NFC]Wave |
This is also a way to avoid taxes don't forget ;)
Steve is an incredibly smart business man. Huge props to him.
/me wants a Powerbook and a G5. |
|
|
| starsearcher |
| quote: | Originally posted by [NFC]Wave
/me wants a Powerbook and a G5. |
+ 1 |
|
|
| JRinger |
Kind of flew under the radar last week, but Michael Sabia, the CEO of BCE turned down his bonus (of close to $1.5M) for the 2nd time in 3 years.
This year he claimed he felt responsible for the disruptions associated with Bell Mobility's new billing system. |
|
|
|
|
