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  • Steve Jobs Paid $1 Salary in 2009


    If Steve Jobs is a man who puts his money where his mouth is, his mouth isn't very full these days.

    The Apple CEO has once again accepted his usual $1 annual salary from Apple in 2009. But, as reported by the Associated Press, Apple was able to hold its ground through the massive recession and, consequently, Steve Jobs regained much of the "pre-meltdown" level of value of his personal holdings in the company.

    Jobs does not get a bonus or reimbursement for perks many other CEOs accept, such as personal security, according to a regulatory filing made Wednesday. Apple said it reimbursed Jobs $4,000 for company travel on his $90 million Gulfstream V jet, which he received as a bonus in 1999.
    In 2008, Jobs was reimbursed $871,000. This year, however, Jobs took an extended leave of absence for six months, during which he received a liver transplant. Jobs has continued to work on a part-time basis in Cupertino since June.

    But, in case you're worried about Mr. Jobs, there's no reason to take up a collection for the Apple CEO any time soon. Jobs continues to hold 5.5 million shares of Apple's stock. He is also the largest individual shareholder of Disney, with a whopping 7.4 percent stake, valued at approximately $4.5 billion.

    At an annual meeting scheduled for Feb. 25, Apple shareholders will for the first time have a chance to cast an advisory vote on the company's executive compensation plans.
    If Apple is poised to have the year 2010 could ultimately prove to be, Steve Jobs along with everyone else holding shares of Apple could make out like a bandit. Between reports of a new tablet device being unveiled next month, to the iPhone likely adopting a 5 megapixel camera next summer, Apple's potential for sales growth is arguably unprecedented.

    And if Apple's exclusive deal with AT&T is modified to extend iPhone coverage through Verizon, Apple will likely once again experience record sales.

    Image via Wired
    This article was originally published in forum thread: Steve Jobs Paid $1 Salary in 2009 started by Michael Essany View original post
    Comments 26 Comments
    1. enjoimike69's Avatar
      enjoimike69 -
      wow 2010 is going to be a great year for apple and apple lovers.
      Cant wait for that tablet and new iPhone
    1. xxfr0stbytexx's Avatar
      xxfr0stbytexx -
      yay for $1!!...
    1. WalkingBird's Avatar
      WalkingBird -
      Poor guy only $1 per year of income... No wonder he always wears the same black shirt and jeans!
      Way to avoid taxes BTW!
    1. noop's Avatar
      noop -
      Quote Originally Posted by WalkingBird View Post
      Poor guy only $1 per year of income... No wonder he always wears the same black shirt and jeans!
      Way to avoid taxes BTW!

      I'm pretty sure they deducted the taxes from the dollar, and gave him a check for 0.65 cents. lol
    1. PlatoTheForms's Avatar
      PlatoTheForms -
      Quote Originally Posted by noop View Post
      I'm pretty sure they deducted the taxes from the dollar, and gave him a check for 0.65 cents. lol
      hahahaha
    1. midgetadam's Avatar
      midgetadam -
      joking aside it's because you're taxed less on stocks than you are on salary, the $1 is their to say he's a payed employee. ok ok back to joking I liked this: "No wonder he always wears the same black shirt and jeans!" but he does have to buy new New Balance shoes every once in a while.
    1. PlatoTheForms's Avatar
      PlatoTheForms -
      Quote Originally Posted by midgetadam View Post
      ...but he does have to buy new New Balance shoes every once in a while.
      lol yeah. dammit he should go ALL BLACK black vans, black pants and that black turtleneck he always wears.
    1. romeo_herman's Avatar
      romeo_herman -
      Taxes Bandit......
    1. thevmax's Avatar
      thevmax -
      Wonder how much it cost him to run the Gulfstream?
      You know jet fuel has gone up again Steve!
    1. brianlg's Avatar
      brianlg -
      If only I were rich enough to accept $1 a year.
    1. awesomeSlayer's Avatar
      awesomeSlayer -
      Hmm...at least you're $1 richer than the US government. He needs to change his style
    1. rhekt's Avatar
      rhekt -
      am i reading this right? steve jobs has a reported salary of $1.00 US? if this is right, how im reading this. apparently everything his house, clothes, food, healthcare, electricals, including the TP he wipes his buttocks with, is written off as a company expense. [In 2008, Jobs was reimbursed $871,000] therefore his annual salary is truely at least the minimum of $871,000. hmmm. why lie. or again. am i reading this right?
    1. Kiserai's Avatar
      Kiserai -
      Quote Originally Posted by rhekt View Post
      am i reading this right? steve jobs has a reported salary of $1.00 US? if this is right, how im reading this. apparently everything his house, clothes, food, healthcare, electricals, including the TP he wipes his buttocks with, is written off as a company expense. [In 2008, Jobs was reimbursed $871,000] therefore his annual salary is truely at least the minimum of $871,000. hmmm. why lie. or again. am i reading this right?
      Yeah, you missed the point. He takes the $1 to prove he's a paid employee, but makes most of his money off the stock he owns, both in Apple and in Disney.

      Trust me, the dude isn't hurting for money, no matter what his "salary" is. He makes good business decisions, Apple stock goes up, he makes money. And he pays less tax on it than he would an exorbitant salary.

      It's really smart, when you think about it. Some day, when I'm rich and famous and have my own company, I'll run it like this too.
    1. southfrisco's Avatar
      southfrisco -
      Quote Originally Posted by Kiserai View Post
      Yeah, you missed the point. He takes the $1 to prove he's a paid employee, but makes most of his money off the stock he owns, both in Apple and in Disney.

      Trust me, the dude isn't hurting for money, no matter what his "salary" is. He makes good business decisions, Apple stock goes up, he makes money. And he pays less tax on it than he would an exorbitant salary.

      It's really smart, when you think about it. Some day, when I'm rich and famous and have my own company, I'll run it like this too.
      What? You do know that just having stock means nothing. Jobs has to sell it to get a physical return (as in cold hard currency). Also Apple does not give an annual dividend out to the shareholders so at this point Jobs isn't making anything off his shares until he sells them. As the CEO if he were to sell a truck load of his shares it would send the wrong message to shareholders. He has money but that money does not come from shares of owned Apple stock.

      I am sure Steve makes it by on personal expenses that he can classify as business expenses which Apple pays for.
    1. bust3rboi's Avatar
      bust3rboi -
      -_- . Its a common practice for CEOs to receive $1 to no salary at all. For those who think im spouting BS ,

      http://www.marketwatch.com/story/cit...t-1-2009-11-17
      http://www.siliconindia.com/shownews...nid-49199.html

      Or just google it yourself .
    1. staterunner180's Avatar
      staterunner180 -
      If all of Jobs income is based off of selling stock, then what happens if all of a sudden Apple stock crashes? Loses massive amounts of money overnight? Then Jobs would be pretty well screwed lol...
    1. politicalslug's Avatar
      politicalslug -
      Quote Originally Posted by southfrisco View Post
      What? You do know that just having stock means nothing. Jobs has to sell it to get a physical return (as in cold hard currency). Also Apple does not give an annual dividend out to the shareholders so at this point Jobs isn't making anything off his shares until he sells them. As the CEO if he were to sell a truck load of his shares it would send the wrong message to shareholders. He has money but that money does not come from shares of owned Apple stock.

      I am sure Steve makes it by on personal expenses that he can classify as business expenses which Apple pays for.
      Job's worth is clear as day. He needn't sell a share for any reason. Say he want's to buy a house: he wouldn't sell a share, he'd convert his stock, then transfer that stock to the bank owning the property. Not a cent of tax would be paid by either party, and viola! He has another house. He isn't compensated in anything but shares and those shares increase in perpetuity. He could buy anything he wants without selling a share or paying a cent in tax. Anything else meaningful to share?
    1. lilskaterpunk's Avatar
      lilskaterpunk -
      Quote Originally Posted by WalkingBird View Post
      Poor guy only $1 per year of income... No wonder he always wears the same black shirt and jeans!
      Way to avoid taxes BTW!
      Haha

      MERRY CHRISTMAS EVERYONE!
    1. tudtran's Avatar
      tudtran -
      Yeah. He doesn't wanna pay 48% taxes. After a they gave tax break to the rich again. He is gonna take out 300 millions in bonuses.
    1. ecd5000's Avatar
      ecd5000 -
      disgusting