“After years of drawing just a dollar in salary, Apple CEO Steve Jobs could be in store for a raise,” Tom Krazit reports for CNET News.
MacDailyNews Take: We think Jobs will keep the salary at $1. He seems to like the concept. Other forms of payment, of course, are possible. He’s more than earned it.
Krazit reports, “Apple filed its annual report for its 2007 fiscal year Thursday afternoon, and hinted in a section about executive compensation that Jobs could be in for some real money fairly soon. ‘Because Mr. Jobs’s continued leadership is critical to Apple, the Compensation Committee is considering additional compensation arrangements for him,’ the company wrote.”
MacDailyNews Take: Papa needs a brand new jet. Among other things.
Krazit reports, “Now, it’s not like Jobs is hurting for money. According to Forbes’ most recent list of the world’s billionaires, Jobs ranks 132nd with an estimated net worth of $5.7 billion, $4.7 billion of which comes from holdings in Disney.”
Krazit reports, “The annual report notes that he holds 5.5 million shares of Apple stock through a series of restricted stock awards over the years–some more controversial than others–that have vested. But it also points out that he hasn’t sold a single share of Apple stock in the 10 years since he rejoined the company.”
MacDailyNews Note: 5.5 million shares at yesterday’s closing price of $164.30 is $903.65 million (on paper).
More in the full article here.
Maybe 2 bucks a year? Double the salary, I say!
I hereby offer to pay his current salary. As the LOreal commercial says, ‘he’s worth it’
I say, he should take a full typical CEO base salary maybe 500k per year. Then donate it to a charity or set up a fund for education or something.
It’s maybe time for him to have an iJet !!!
For my part, I’ll sure accept an iJet Nano…
– SJ is motivated by leading Apple Inc. to world domination with the largest collection great products ever assembled by one business.
– It is obvious that he is NOT driven by acquiring wealth.
– A $ a year is a very loud statement against the huge greed of the Directors of Microsoft.
– He said it all in his Harvard address of course: http://deimos3.apple.com/WebObjects/Core.woa/Browse/itunes.stanford.edu.1292029264.01292029269.1292846299?i=1411599120
He’s an exceptional guy no doubt. But (probably) best appreciated at a distance..!
“Well, Steve, you’ve done a pretty good job. We really like what you did with the music thing. So we’re going to give you an 8% raise. That’s 4% higher than average. Sound good? Great. Let’s just work on getting here on time a little better, and try not to forget that paperwork, eh? Heh-heh-heh! Now, get back out there, buddy, and we’ll see you at the meeting Friday morning.”
Double his salary. Nah, maybe a fiver.
He already HAS a jet! Apple “gave” him one 5 or 6 years ago.
Hey MacaDay, since when is Stanford spelled H-A-R-V-A-R-D?
Yeah double his pay…. to $2
The $1 salary is ceremonial; it is just enough to generate a W-2 form and to make him an employee. (I have a job with a $1 salary too.) By taking his compensation in stock options, his compensation is tied directly to the company’s performance. When he first came back to Apple, it was a way of putting himself on the line and showing that he was serious about turning the company around.
Now that Apple is a huge success, I can see why people would want to give him a more conventional compensation package, but I don’t see the point. Money is money, whichever way it comes, but the present setup keeps him motivated to keep improving Apple’s performance.
Unless Apple is planning on settling in for a long corporate nap, there is no reason to change anything.
If he has 4.7B through Disney (Pixar), then it means that ‘only’ 1B of net worth can be attributed to 30+ years of Apple??? Not that that’s chicken scratch by ANY means, but he IS Apple… thought he’d have more than that.
Mr. Bill has something like 60B.
yes, a 50% raise is called upon.
B.Gates dumped millions of shares of M$.
Jobs is the man, double his salary!
And let’s go crazy with bonus this time, he could use a brand new A380.
Didn’t he excercise some of his options recently?
I think the ceremonial $1 pa salary should stay. Partly because it makes a statement and also because I agree that his real reward ought to be tied to the companies success.
Perhaps they should award him without restriction a number of shares of company held stock on an annual basis, say 250,000 ordinary shares annually. At the current value it would be in line with top execs at many other companies and still well below some of the mega figures of some. Yes he would be taxed on it but it would be up to him as to either sell some of the shares to pay the tax or to dip into his own pocket to pay the tax and hang onto the shares.
Just an idea !!!
So, he gets paid if he does a great job and and gets one dollar if he doesn’t.
Who would complain about that?