“Steve Jobs, the chief executive of Apple Computer, is a standout in our analysis of performance versus pay. One year ago, we ranked Jobs at 81, but this year he jumped all the way up to 18,” John J. Ray writes for Forbes. “In one year Apple’s earnings rose 295%. More importantly, Apple shareholders were rewarded with a six-year annualized total return of 29%, compared to -1% for the S&P 500. Over the past six years, Jobs has been paid an average of $14.6 million per year in total compensation.”
Ray writes, “Steve Jobs only received $1 in official compensation from Apple Computer last year, but his 1.2% stake in Apple is now worth $417 million.”
Forbes lists Steve Jobs and the nine other survey executives that had the biggest year-over-year jumps in their performance versus pay ranks here.
Related MacDailyNews articles:
Apple’s CEO Steve Jobs took $1 salary again in 2004 – March 15, 2005
Apple’s CEO Steve Jobs took $1 salary again in 2003 – March 11, 2004
My dad always brings up the Jet that Apple’s board gave as an example of poor corporate governance…however, I wonder how much they save if he uses his own plane to travel for business? Also, distribute that jet over a number of years, and SJ’s still gotta have a low avg compensation.
I doubt Apple saves anything. They probably reimburse Jobs for use of his jet, and that’s going to cost a lot more than even expensive commercial tickets.
Apple is the only company whose execs use company jets
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I think Steve’s point was that the last-minute first-class tickets–and Steve’s TIME–that get saved by having the jet–help offset SOME of the jet’s cost. Not pay for it totally.
Most people are totally ignorant of the realities of big business. I am very sure Steve doesn’t zip around on his private plane just for the fun of it; the fun wears off after the first flight. The plane is actually a money-maker for Apple as Steve is able to make meetings and appearances. He is the biggest advertising and inspirational soul of Apple. A Lear is a minor price to pay, and a garners a huge return on the investment.
Go back to your Wal-Mart and Yugo world, and leave Steve alone to do the business that you want him, and need him, to do.
пустая головка is right. Steve is our greatest advertising asset. The jet lets him do his job to the level we all want and expect.
Additionally, the jet is included in the average annual compensation of $14.6 million dollars. Take away the jet and his average drops considerably. But who cares, Steve has proven his worth to the company one-hundred fold.
The jet was a gift from the board of directors.
On the Jet, Steve already had a job elsewhere. This is what they had to do to get him.
Do you really want Steve flying back and forth in a small plane like John Denver? Can you imagine what would happen to Apple if Steve’s small plane went down?
That jet is the BEST investment Apple ever paid for!
The president of ORU uses a private jet to fly around to different meetings and speaking engagements. According to him, the jet paid for itself in 3 years. Now compare that to a company as large as Apple. Steve’s jet probably paid for itself in 3 days.
Derek,
you say that the jet was a “gift” from the board of directors as if that exepts it from being taxable compensation. This simply is not true. Any gift exceeding $10,000 in value must be claimed and the board of directors had to include the cost of the jet in the companies financial filings as compensation.
Steve M,
Ask your dad if he invested in Apple stock when it was <$20 prior to the split if he really would care about the expense of the jet.
We also don’t know if the jet is leased out on days Steve (or anyone else doing Apple business) is not using it. Sure the jet may show up as an expense, but where does any revenue from it show up?