Jobs Earns More Than A Buck A Year

The Only Druid writes "Well, though we've all heard about Steve Jobs only being paid $1 per year for being CEO of Apple, it turns out Apple pays him in other ways. He gets $1.2 million for renting the jet to them -- a jet that Apple bought for Jobs."

Comments

Re:How incredibly lame...

[Anonymous Coward]

"...A recent report published by Economic Research Institute and CareerJournal.com tracks executive compensation, and there was an interesting footnote -- the highest paid executive on the survey was Apple CEO Steve Jobs, even though he's not actively collecting a salary in his role. The Executive Compensation Index tracks how corporate executives are being paid, and has been active since 1997. It tracks total cash compensation -- to wit, salary and bonuses -- for the highest-paid executives at 45 major U.S. businesses. It also compares executive compensation to corporate revenues. The report said that Steve Jobs was the highest paid executive for the most recent survey period -- although he collected no salary, he did get a US$43.5 million bonus, according to the data collected..."
and BusinessWeek ranked Apple's as one of the ten worst Boards of Directors: "...Founder Steve Jobs owns just two shares in the company. Recently departed director Larry Ellison had none and had missed more than 25% of meetings in the past five years. The CEO of Micro Warehouse, which accounted for nearly 2.9% of Apple's net sales in 2001, sits on the compensation committee. Since 2000, the board has awarded Jobs 27.5 million stock options and a $90 million jet. There is an interlocking directorship--with Gap CEO Mickey Drexler and Jobs sitting on each other's boards..."

Apple annual report

[goombah99]

As an apple stock owner I get the annual report. This fact has been in the annual report of many years now. IN deed recently they asked us to vote on ways to increace excectuive compensation. this is not newsworthy. I mean even if he did get 0$ compensation he'd still be willing to run the ocmpany since he has stock and stock options.

the 1$ is just the standard minimum for a contract. do you suppose he gets health benefits worth more than $1 too. i'd say so.

the thing with steve is that he loves running apple and it shows. that's why I did not worry about voting stock options for him. I did not have the sense he was going to pull an enron, goose the stock price and bail. On the other hand I was a bit nervous about the rest of the board. What made me less owrried was that some of the principles ate the time was larry ellison and the head of genetech. These people are also into their own bussinesses in the same way steve is into his. So i felt reassured.

maybe i'm wrong basing investment decisions on personality, but its the only stock I own I have not lost money on in the past several years.

But the tone of this post, that the $1 salary is a hypocritical lie just does not past the reality test. only a naive dupe would think that was his only compensation.

Re:Apple annual report

[Anonymous Coward]

I own Apple stock too and haven't gotten an annual report in a couple of years now . . .

Geez!

[Draoi]

What a bunch of whiners! Lookit - I worked at Apple during the Spindler years & on into the Gil 'wimp bullshit' Amelio period. Jobs was the best thing that ever happened to Apple. He turned the company around where nobody else could. Let him have the damn jet - he earned it. Shareholders can't complain either for, without grouchy, megalomaniac Steve, Apple would now be very dead.

Steve had originally agreed, AFAIK, to work for $1 a year (+ benefits that all other employees get) until Apple got turned around. It's turned, so stop whining already.

[Disclosure: yeah, I still work there.]

check the facts, looks are sometimes deceiving

[Anonymous Coward]

"...A recent report published by Economic Research Institute and CareerJournal.com tracks executive compensation, and there was an interesting footnote -- the highest paid executive in the whole survey was Apple CEO Steve Jobs, even though he's not actively collecting a real salary in his role. The Executive Compensation Index tracks how corporate executives are being paid, and has been active since 1997. It tracks total cash compensation -- to wit, salary and bonuses -- for the highest-paid executives at 45 major U.S. businesses. It also compares executive compensation to corporate revenues. The report rates Steve Jobs as the highest paid executive for the most recent survey period -- although he collected $1 salary, he did get a US$43.5 million bonus, according to the data collected..."
and BusinessWeek ranked Apple's as one of the ten worst Boards of Directors due to: "...Founder Steve Jobs owns just two shares in the company. Recently departed director Larry Ellison had none and had missed more than 25% of meetings in the past five years. The CEO of Micro Warehouse, which accounted for nearly 2.9% of Apple's net sales in 2001, sits on the compensation committee. Since 2000, the board has awarded Jobs 27.5 million stock options and a $90 million jet. There is an interlocking directorship--with Gap CEO Mickey Drexler and Jobs sitting on each other's boards..." (a repeat post)

Because billionaires care about $1.2m

[90XDoubleSide]

For that matter, the $40 million for the jet iself was just a gesture. This is the way Steve made his new fortune: Jobs owns 30,000,001 shares of Pixar, currently valued at $1,563,000,000. The shares increased in value by about $690,000,000 in 2002, so the $1,200,000 he made for the jet last year is pretty meaningless.