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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.

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    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. smsjrtato's Avatar
      smsjrtato -
      plus all the money he saves on his turtlenecks. =)
    1. snap1500's Avatar
      snap1500 -
      lol, $1. There is a reason for the $1. anyone a CFO will be able to figure out what i'm talking about.

      Quote Originally Posted by mr117 View Post
      Corporate leaders taking a single dollar is not a publicity stunt. No one really hears about it, so where's the publicity? They do it to be on corporate boards or for other reasons. I'm sure Steve has plenty of stock, and if the price of the stock goes up, he makes money. At his level, making money is secondary. I doubt he's doing anything for money anymore. YOU do things for money, and it colors everything YOU do, because you don't have enough money. YOU are not him. What's he need the money for? He's out to leave his mark on society, not get richer.

      No, he's NOT a good old guy. I previously said I think he's a "male member." Everything I've read about his behavior leads me to believe that is the case. But I do believe he's not in it for the money anymore.

      And, again, what massive failures? My older son and I both have i4s and neither us has had any issues with them. We both had 3Gs's with no probs. We both had 3G's with no probs. He had a 2 with no probs (I still had my RAZR at that point). I've got, right now, an iPadWiFi, an iMac 24", my wife has a 15" Pro, we still have a 3rd Rev iSight iMac that my younger son uses, we had a Graphite iMac and a Green iMac before that, plus an iBook 10gb I bought in 2000 that I sold a year and a bit ago for $200 (it still worked fine). The Graphite iMac lost a HD, which I replaced for $100. The iMac 24" just lost a HD, which my AppleCare covered. The iSight had the display issue, and Apple replaced the display for free. Ten years of Mac use at a repair cost of $100. What massive failure rate? I bought a Honda Civic the first year it came out (the first year of the new style) and it got recalled three times. Things that are built sometimes have issues. But Apple, from my experience, is a good company that makes a good product. If it didn't, there wouldn't be so many iPhones out there, so many iPads, so many computers.

      What massive failures?
      its an image thing. thats why people buy their product...

      Quote Originally Posted by RICO_ View Post
      Wow. If you people think that taking a $1 yearly salary is anything more than a publicity stunt, or if u think he doesn't participate in a bonus program, or if you think he doesn't care about money.....you really need to wake up. lol.

      He's just a genuine good ol' guy right? Except when it comes to owning up to his product failures. Then he just blames it all on the consumers. Yeah he's a shining leader by example of customer service!

      i think he should have taken the salary money and give it away to a good cause instead of not taking it and leaving it with the company, which already has enough and dont know what to do with it. ya'll might not like bill gates that much but he's giving away half his money to good cause and a bunch of others have joined him to do the same. Jobs, why aren't you on that list?
    1. rossrossross's Avatar
      rossrossross -
      As previously stated, single-digit salary earners are not unheard of, but you wouldn't know that based on a lot of these nave posts. Accepting stock options instead of a salary exempts you from certain taxes. In trade of risking all your money in the stock market, something steve hasn't worried about in the past 13 years, you may retain more money, but at the cost of taking the funding out of certain government programs. I like how the rich can avoid paying certain taxes but the poor cannot. Instead, they have to avoid purchasing certain basic needs of life. Someone mentioned how they liked how steve jobs clearly does not care about money and he just wants to make the best products for his consumers blahblahblahblah blah. That's a total lie.

      Co-Founder of Whole Foods Market John Mackey on the otherhand, is another $1/year CEO. But unlike all the rest of the greedy bastards you hear about, John Mackey receives no alternative form of compensation. He really only makes $1.
      he's been quoted as saying "I have reached a place in my life where I no longer want to work for money, but simply for the joy of the work itself and to better answer the call to service that I feel so clearly in my own heart."

      But no, that's not newsworthy at all.
    1. EskimoRuler's Avatar
      EskimoRuler -
      i like that he realizes he doesnt need a giant salary when he is already worth 6 Billion dollars. i feel hes not one of the rich people that all they care about is making more money

      Quote Originally Posted by rossrossross View Post
      As previously stated, single-digit salary earners are not unheard of, but you wouldn't know that based on a lot of these nave posts. Accepting stock options instead of a salary exempts you from certain taxes. In trade of risking all your money in the stock market, something steve hasn't worried about in the past 13 years, you may retain more money, but at the cost of taking the funding out of certain government programs. I like how the rich can avoid paying certain taxes but the poor cannot. Instead, they have to avoid purchasing certain basic needs of life. Someone mentioned how they liked how steve jobs clearly does not care about money and he just wants to make the best products for his consumers blahblahblahblah blah. That's a total lie.

      Co-Founder of Whole Foods Market John Mackey on the otherhand, is another $1/year CEO. But unlike all the rest of the greedy bastards you hear about, John Mackey receives no alternative form of compensation. He really only makes $1.
      he's been quoted as saying "I have reached a place in my life where I no longer want to work for money, but simply for the joy of the work itself and to better answer the call to service that I feel so clearly in my own heart."

      But no, that's not newsworthy at all.
      didnt see your post until i posted mine

      you make a great case, i never thought about getting out of paying certain taxes that could go towards government programs. I would hoe that at least some of the dollars salary is for not concerns about the money but im sure this is has to do with it as well