“Apple Inc. Chief Executive Steve Jobs continued his tradition of taking home only $1 in salary in 2007, when he also gained $14.6 million on paper by exercising stock options that were about to expire, according to a filing with the Securities and Exchange Commission,” Jordan Robertson reports for The Associated Press.
“Jobs has taken a $1 annual salary since returning to the Cupertino-based company in 1997 and has hoarded his shares of Apple stock since then, accumulating about 5.5 million, according to Apple’s proxy report filed Wednesday with the SEC,” Robertson reports.
“The value of Jobs’ stock has taken a beating over the past month, however, as investors have retreated from Apple shares amid fears of slowing consumer spending and a recession in the United States,” Robertson reports. “Since Apple released a disappointing second-quarter forecast after the close of trading Tuesday, Apple shares have plunged almost 11 percent. That drop has lopped $20 billion from the company’s market value and trimmed the value of Jobs’ stake by $125 million to a total of around $730 million.”
“After he returned to the company he co-founded more than 20 years earlier, Jobs’ bonus in 1999 for engineering an impressive turnaround was a $90 million Gulfstream V jet, whose operation Apple still helps pay for,” Robertson reports. “Under a reimbursement agreement, the company repays him for the expenses of operating his private plane when it is used for company business, an arrangement that cost Apple $776,000 in 2007, according to the filings.”
but that doesn’t include benefits.
Steve has not been given much stock either. Plus, he has not sold any Apple stock his he as been back in 1997.
Well, it’s not like he needs lunch money or anything.
No wonder they pay him so little, his forcasts are terrible….
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no need to backdate the options when you can forward date them for the day after the forecast comes out…causing deep depression in the stock price
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you can say anything when you smile!
Steve-o probably has a vegetable garden on the campus somewhere.
Everyone knows Steve is not in it for the money. He really has a passion for the stuff they create. Unlike the MS leaders who are either drones reading off a list or high on caffeine jumping around like a sleazy used car salesman on TV, SJ is in it for creating really cool stuff.
He deserved about a zillion times that amount.
According to filings, he took no stock, no benefits, nothing – just the dollar! But the board is getting together on voting on a “bonus” for him.
Interesting how Apple gave poor forward guidance for the next quarter, dropping the price down to $135 from the near $200 level. What an opportunity to grant him stock that will indeed appreciate way beyond that $200. Hmmmm…..
It’s really surprising, a guy like Steve Jobs who is nearsighted and requires glasses to see the crowd at MacWorld, allows his company to produce glossy computer screens and ruins the the eyes of millions of young children with eye fatigue caused by eyestrain of the eye focusing back and forth between the reflections, requiring them to get glasses early in life.
“It’s really surprising, a guy like Steve Jobs who is nearsighted and requires glasses to see the crowd at MacWorld, allows his company to produce glossy computer screens and ruins the the eyes of millions of young children with eye fatigue caused by eyestrain of the eye focusing back and forth between the reflections, requiring them to get glasses early in life.”
Geez. And to think I thought it was from all the masturbation looking at nudie sites all day.
@ Old Mac Man
What does a glossy screen have to do with SJ’s $1 salary?
That’s what I thought!
Yes Apple exists to ruin the eyesight of millions of young children, man get a grip!!!!!!
Hmmm I think Old Man Mac wants computers back when they were 8 inches wide with only one color and about the size of a living room.
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Geez. And to think I thought it was from all the masturbation looking at nudie sites all day.
My shriveled raisin swelled into a banana when I reviewed your site Chrissy…
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What does a glossy screen have to do with SJ’s $1 salary?
Hmmm, crappie salary, crappie glossy screens.
I see a correlation here.
Still love Apple, after all these years. Despite what their glossy CRTS did to my eyes.
Boy, it’s gonna take Steve a looong time to pay off his mansion.
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You’re way off on the price of that jet. It’s worth more like $40M.
-jcr
Does he have a HMO health plan? If so, how much does he have to pay?
not sure why jobs gets pats on the back for this. income is highly taxed while capital gains on his apple share and bonuses are not.
regardless jobs is apple. he’s done a great job (pardon the pun) during his return.
I have just petitioned Apple to make the screens glossier.
They are not glossy enough!
Who’s with me?
Reflect on this and join me.
I have seen the glossy and dammit,
I need more.
(As an aside, I’m willing to bet 5 Zune points that OMM will mention his glossy pain at least until MDN reaches 18,145 posts. Who’s in?)
I have a fever. And there’s only one cure for this fever….
More glossy.
He needs to have his Salary doubled!
Did somebody say Zune points?
I love Zune points. Points are better than money. It’s like a game because in a lot of games and sports they use points. Nobody says the L.A. Lakers beat the Chicago Bulls by $13. That’s crazy. It doesn’t even make sense. But if you say the L.A. Lakers beat the Chicago Bulls by 13 points everybody understands you.
What’s my point (pun intended)? Using Zune points at Zune Marketplace on a Dell PC running Microsoft’s magnificent Windows Vista is loads of fun, like using Windows has been for years. Microsoft gets this. I don’t know why Apple doesn’t get this. You MAC lemmings like to say using a MAC is fun. You have no idea what fun is.
Your potential. Our passion.™
More cowbell and more glossy!
@iTax advantage said: “not sure why jobs gets pats on the back for this. income is highly taxed while capital gains on his apple share and bonuses are not.”
Well, maybe he gets pats on the back for this because most CEO’s take BOTH. I know you’re only being half serious, but let’s give the man kudo’s for put his money where is mouth is. Getting paid in stock (or options) means that he doesn’t get paid unless Apple prospers. There aren’t many CEOs whose income depends solely on the value of their company.
Ampar,
I have a feeling OMM is the alter ego of a regular here.
Annoying, isn’t he? But I assume that’s his (or her) goal.
I wonder if he got a good dental plan…
“Annoying, isn’t he?”
Like the sibling that keeps punching you in the shoulder.
Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it. Ow, quit it.