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  • Worth $6 Billion, Apple Chief Steve Jobs Keeps $1 Salary


    On Friday, Apple filed its 2011 Proxy Statement with the U.S. Securities and Exchange Commission. Once again the record shows Apple Chief Steve Jobs has retained his traditional annual salary of just one dollar. Of course, when you already have a net worth estimated at $6 billion, such a paltry salary isn't particularly consequential. Still, Jobs is largely alone at Apple when it comes to waving a generous executive salary.

    Apple Chief Operating Officer Tim Cook was compensated handsomely in 2010. With cash bonuses and stock-based payouts, Cook took home better than $59.1 million last year. Cook, who only earned $1.64 million in 2009, enjoyed a 2010 base salary of $800,000. The bulk of his payday came from $52.3 million in stock awards and another $5 million cash bonus to boot. Additionally, three months ago, Apple's Compensation Committee decided to increase Cook's 2011 base salary from $800,000 to $900,000.

    Steve Jobs has maintained his $1 per year salary since returning to Apple in 1997. But despite officially earning only $13 over the past thirteen years, Job continues to posses 5.5 million shares of Apple stock. And according to the content of his company's latest SEC filing, Jobs is yet to sell a single share. As a result, last September Steve Jobs was ranked the 42nd richest American by Forbes magazine.

    Apple
    This article was originally published in forum thread: Worth $6 Billion, Apple Chief Steve Jobs Keeps $1 Salary started by Michael Essany View original post
    Comments 64 Comments
    1. Cer0's Avatar
      Cer0 -
      Yea and Pixar put a nice amount of change in his pocket too.
    1. StealthBravo's Avatar
      StealthBravo -
      SJobs is the man! Awesome numbers
    1. Cer0's Avatar
      Cer0 -
      He is one awesome CEO. Some may not like his styles but he created NeXT and got a company that forced him out to buy them. And also brings back his original company from almost death. Then has Disney buy his other company he got from G. Lucas.
    1. Melech518's Avatar
      Melech518 -
      Steve Jobs you are my hero
    1. StealthBravo's Avatar
      StealthBravo -
      Mine as well
    1. Melech518's Avatar
      Melech518 -
      But everyone still needs a Tim Cook
    1. Antman217's Avatar
      Antman217 -
      A lot of people complain and criticize his methods but I love the guy and I would totally do the same things he does with his company because although some people don't like it, its what makes Apple what they are and thats why they are succeeding now. Remember Apple without Steve? That was a disaster.
    1. StealthBravo's Avatar
      StealthBravo -
      Ain't that the truth. I am looking for a Tim Cook as we speak
    1. Melech518's Avatar
      Melech518 -
      I just found one!!!
    1. StealthBravo's Avatar
      StealthBravo -
      That's great! I need one so bad I can't even tell you. Those kind of people are so hard to find.
    1. Melech518's Avatar
      Melech518 -
      I agree. I got so lucky. I had to steal this one from Apple. Shhh
    1. StealthBravo's Avatar
      StealthBravo -
      That works.
    1. iJake's Avatar
      iJake -
      Steve has to be one of the best CEO's to date. He is very involved, and demonstrates the new technologies that Apple bring to us. He is the one-man PR team and really speaks to the people. Most companies can only wish to have someone of that stature leading them.
    1. Zokunei's Avatar
      Zokunei -
      Not to cry about the writers (it's going on too much now), but I feel like this was a story a few months back.
    1. tudtran's Avatar
      tudtran -
      Steve probably took his bonuses in Apple's stock. Apple stock is skyrocketed.
    1. Cer0's Avatar
      Cer0 -
      Quote Originally Posted by Zokunei View Post
      Not to cry about the writers (it's going on too much now), but I feel like this was a story a few months back.
      Really? Cause the date on the source for which the files came from says this.

      APPLE INC filed this Form DEF 14A on Jan 07, 2011
      Something I sort of found interesting from the documents.

      However, the bonuses represent a relatively small percentage of the executives’ total compensation because the Company believes cash bonuses are less effective in attracting new executive talent than equity compensation, and such bonuses promote retention only in the short-term (the bonus performance period). In addition, the Company prefers to emphasize long-term shareholder value creation over annual operating results. Accordingly, the bonus program is modestly funded relative to those of peer companies, as reflected by the following:


      • Mr. Jobs does not participate in the bonus program;
      Source: Apple Investor Relations SEC Filings
    1. Zokunei's Avatar
      Zokunei -
      Quote Originally Posted by Cer0 View Post
      Really? Cause the date on the source for which the files came from says this.



      Something I sort of found interesting from the documents.



      Source: Apple Investor Relations SEC Filings
      Hmm, they mist say it for every yearly report then. Because I remember them saying something like "Steve Jobs still takes his humble $1 salary as CEO" some months ago. Then I said it must not be real because it's way below minimum wage. Of course, since I was wrong, about five people quoted me and were like "no man, it's actually quite common
      link 1
      Link 2
      Link 3
      "
    1. Cer0's Avatar
      Cer0 -
      You hear it all the time because that is the same thing he gets. Thus the reason for it to sounds familar.

      Do you read the links they post to gain the reasoning behind what people say back to you?
    1. Zokunei's Avatar
      Zokunei -
      Quote Originally Posted by Cer0 View Post
      You hear it all the time because that is the same thing he gets. Thus the reason for it to sounds familar.

      Do you read the links they post to gain the reasoning behind what people say back to you?
      Lol I don't really remember if they posted links, but they usually do. I do follow them usually. I don't think I would've that time because I don't really care what a CEO makes for yearly salary lol.
    1. Cer0's Avatar
      Cer0 -
      Then why argue it?