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