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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.

    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. Zokunei's Avatar
      Zokunei -
      Lol I was wondering why it wasn't illegal.
    1. texan's Avatar
      texan -
      I bow to you, master...
    1. Cowboy's Avatar
      Cowboy -
      one day i will start a company called orange and i will be bigger than sjob and gates.
    1. carlbgc's Avatar
      carlbgc -
      Steve Jobs has gotta be one of the, if not, THE best CEO in the world. Compare Jobs to the Microsoft CEO, whatever his name is. The guy that only pops up in the media when he's taking a cheap pot shot at Apple.

      And I bet he doesn't personally respond to customers with technical queries Go Steve!
    1. Cowboy's Avatar
      Cowboy -
      I do love how steve will get personal with customers and actually respond sometimes to emails himself
    1. Cer0's Avatar
      Cer0 -
      I like the ruling with iron fist. He makes employees cry but at the same time they love that because he only wants the best from them. He pushes them because he knows they can do better.
    1. Rob2G's Avatar
      Rob2G -
      I'm a Tim cook, I need a Steve jobs maybe the my little business can go somewhere.

      Steve jobs is a god.
    1. goodluck4287's Avatar
      goodluck4287 -
      That's cool, that's pretty much what I got paid as a top 2 Mac specialist in the retail store.
    1. ecd5000's Avatar
      ecd5000 -
      This is again ridiculous
    1. fatherq's Avatar
      fatherq -
      steve jobs' a legend right now!!!
    1. 1shuttle1's Avatar
      1shuttle1 -
      When Steve joins Warren Buffet and Bill Gate's "The Giving Pledge" then he will be the man. The man wants for nothing. He probably has not spent a penny of his own money in years. Hell even Mark Zuckerman of Facebook has joined. The whole 1 dollar thing is just a joke when you are worth 6 billion plus. If you don't know what it is check it out. Come on Steve I'm sure you can survive off 3 billion.

      The Giving Pledge
    1. Cer0's Avatar
      Cer0 -
      Nobody knows if he has donated before. Some people don't like to show it off every time they donate. So who knows SJ could be donating anonymously or not at all.
    1. hogcia's Avatar
      hogcia -
      All these guys make too much money.
    1. mr117's Avatar
      mr117 -
      My five shares of Apple that I bought at a really low price a couple of years ago have tripled. Thanks to Steve, I can afford to buy about two-thirds of an iMac with my profits. Thanks, Steve.

      Seriously, he may be a "male member" personally, but he runs a good company. If it wasn't for the anti-jailbreaking stance, I'd really have no issues at all with it as a corporation.
    1. StealthBravo's Avatar
      StealthBravo -
      It's never enough!
    1. Jahooba's Avatar
      Jahooba -
      I wonder what Job's main source of income is from. He needs money to pay the bills, after all.

      What about his personal life? Is he married? Kids?

      Quote Originally Posted by hogcia View Post
      All these guys make too much money.
      That's a myth. There's no such thing as too much money
    1. y2kcurt's Avatar
      y2kcurt -
      Wait a minute, isnt Apple violating Federal Minimum wage laws...yet again, another Corporate giant not having to play by the same rules as "Main Street"...lol
    1. Zokunei's Avatar
      Zokunei -
      Quote Originally Posted by y2kcurt View Post
      Wait a minute, isnt Apple violating Federal Minimum wage laws...yet again, another Corporate giant not having to play by the same rules as "Main Street"...lol
      Lol that's what I said last time this $1 salary was brought up.
    1. sandstorm77's Avatar
      sandstorm77 -
      6 billion?

      5,500,000 share
      x $336 a share
      $1,848,000,00 net worth from shares

      where the hell did he get the other 4.2 billion from if hes not getting a salary? He may not be getting a salary but im sure hes getting some sort of substantial cash bonus every year.
    1. StealthBravo's Avatar
      StealthBravo -
      He owns shares of Disney and many other companies