Apple’s CEO Steve Jobs took $1 salary again in 2009

Justin Kase Conder asks The Associated Press’ Jessica Mintz: “The AP recently reported that Steve Jobs took a $1 salary in 2009. In the same story, it is also indicated that he hasn’t cashed in any of his Apple stock since 1997. The question remains: How does the guy maintain a lavish lifestyle? Where does his money come from?”

Mintz replies, “Apple Inc. won’t let us peek into Steve Jobs’ personal bank account, so we’re going to have to rely on some facts and some educated guesses to answer this one.”

“Apple went public in 1980. From then to when Jobs was forced to resign in 1985, he was likely paid a salary and may have sold some stock,” Mintz reports. “The Associated Press reported that in the summer of 1985, Jobs sold about $14 million worth of Apple shares. So one guess is that Jobs hired a savvy money manager to invest at least some of those earnings.”

“Jobs returned to Apple in 1997, and has been paid $1 a year since 1998. He currently owns about $1.2 billion worth of Apple stock,” Mintz reports. “Jobs also holds $4.4 billion worth of Walt Disney Co. stock, which he received when he sold Pixar Animation Studios to Disney in 2006. Disney pays investors an annual dividend of 35 cents per share. For Jobs, who has about 138 million shares, that comes out to about $48 million a year.”

Full article here.

29 Comments

  1. As great a businessperson as he appears to be now, it will look even more astounding 20 years from now when we look back at what he has done. Quirky, maybe, but people who have accomplishments like his are not like the rest of us. Anybody else you know walking around with 7.4% of Disney in their back pocket?

  2. lavish lifestyle?

    I think the guy asking the question needs to ask himself some questions.

    A CEO that works as many hours as Steve does, wears jeans and a black turtleneck every day (no belt or other accessories), hardly seems to be living a lavish lifestyle.

    Perhaps there is something I am missing?

  3. @Steve516

    “How does the guy maintain a lavish lifestyle?”

    It’s another case of journalistic integrity gone out the door. These writers write so much BS its embarrassing to even refer to these guys are journalist.

  4. Are we supposed to be impressed by this? he is one of the richest men in the country. If you only owned one stock each of disney and apple , along with his $1 salary then maybe It would impress me

  5. He doesn’t need the money

    He needs the freedom to do want he wants. He lost that in 1985 and made damn sure it wasn’t going to happen again when he returned in 1997.

    He has assembled a loyal group of VP who care as much about the product as he does. He won’t ever have suits come in again to screw the business like they did before.

    When you are that rich it is no longer about the money it is about success, power and control. I worked for a guy who was big in science and a member of the Levi Strauss family. He had independent money and was very success in research. He was driven by power more than anything else. Money wasn’t the issue it was being able to influence the direction of his field and science overall. SJ is exactly like that.

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