“As he has done for the last decade, Apple Inc. chief executive Steve Jobs took home his customary $1 annual salary in 2008, but the economic meltdown and Apple’s falling stock price whacked half a billion dollars off the value of his holdings in the company,” Jon Bonné reports for The Associated Press.
“Apple said in a regulatory filing Wednesday that Jobs, 53, who holds 5.5 million shares of Apple stock, hasn’t sold any of the shares since rejoining the company in 1997,” Bonné reports. “Apple shares have lost more than half their value since the end of 2007, when they were trading at nearly $200 and Jobs’ holdings were worth more than $1 billion. The stock finished Wednesday up $2.01, or 2 percent, at $91.01, meaning Jobs’ stake is worth $500 million.”
“Most of Jobs’ wealth – estimated at $5.7 billion – comes from the 138 million shares he owns of the Walt Disney Co., a 7.3 percent stake that makes him Disney’s largest individual shareholder,” Bonné reports.
Full article here.