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01-07-2011, 11:02 PM #1
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.
01-07-2011, 11:04 PM #2
Yea and Pixar put a nice amount of change in his pocket too.
Last edited by Cer0; 01-07-2011 at 11:09 PM.
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01-07-2011, 11:07 PM #3
SJobs is the man! Awesome numbers
01-07-2011, 11:13 PM #4
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.
Last edited by Cer0; 01-07-2011 at 11:15 PM.
01-07-2011, 11:17 PM #5
01-07-2011, 11:20 PM #6
Mine as well
01-07-2011, 11:21 PM #7
01-07-2011, 11:23 PM #8
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.
01-07-2011, 11:23 PM #9
Ain't that the truth. I am looking for a Tim Cook as we speak
01-07-2011, 11:25 PM #10
01-07-2011, 11:27 PM #11
That's great! I need one so bad I can't even tell you. Those kind of people are so hard to find.
01-07-2011, 11:29 PM #12
01-07-2011, 11:33 PM #13
01-08-2011, 12:04 AM #14
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.
01-08-2011, 12:12 AM #15
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.
01-08-2011, 12:13 AM #16
Steve probably took his bonuses in Apple's stock. Apple stock is skyrocketed.
01-08-2011, 12:21 AM #17
APPLE INC filed this Form DEF 14A on Jan 07, 2011
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;
Last edited by Cer0; 01-08-2011 at 12:22 AM. Reason: Automerged Doublepost
01-08-2011, 12:27 AM #18
01-08-2011, 12:30 AM #19
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?
01-08-2011, 12:34 AM #20