Filed under: Apple Corporate, Steve Jobs
For a guy who makes $1 per year, Steve Jobs sure is rich!
Forbes Magazine published their annual "400 Richest Americans" ranking yesterday, and as usual Mr. William Gates of Microsoft leads the list at a net worth of US$50 billion. Others in the PC world are in the list -- Microsoft's favorite screamer Steve Ballmer is at #14 with US$13.3 billion, the Google twins Sergey Brin and Larry Page are tied for #11 at US$15.3 billion, and Michael Dell is lucky number 13 with US$14.5 billion -- but the "cultish king of the iGeeks", Steve Jobs, is on the second page of the list at #43 with a measly US$5.1 billion fortune.The Forbes article notes that Jobs' best investment was picking up Pixar from George Lucas in 1986 for US$10 million. He sold Pixar to Disney in 2006 for US$7.4 Billion in stock, and is now Disney's largest shareholder.
Jobs still pulls down a salary of only US$1 per year as CEO of Apple, but he makes up for it in Apple stock and free use of a corporate jet. By the way, someone at Apple needs to update Steve's official company portrait (right) -- he looks a lot older now...
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Reader Comments (Page 1 of 1)
Shawn said 3:39PM on 10-01-2009
If you guys believe he makes $1 a year... you truly are dense.
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Stephen.4 said 3:43PM on 10-01-2009
His salary his $1 per year. He doesn't make $1 per year.
Just poor word choice on TUAW's behalf.
Lindt Dale said 3:41PM on 10-01-2009
For a guy who doesn't have a work, Bill gates sure is rich. Uber rich. :)
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Chinook said 3:51PM on 10-01-2009
Nope! He is very smart..or very well advised
Salary are not taxed as the same as capital gain.
I'll bet that, $ for $, he is paying less taxes than most of us.
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michaelbushnell said 4:24PM on 10-01-2009
You are correct. Capital gains are capped at 20% tax I believe. I'm a CPA, but I don't do taxes so don't quote me on that. I can assure you that he is paying a much smaller % in taxes than you or I, but his total $ amount blows us away.
IvanP91 said 3:54PM on 10-01-2009
Steve aint makin $1 no more. He took the actual money either the previous year or year before that. He USED to only take $1 of his salary now he takes what he makes.
For a guy that rich he could be thinking of retiring soon-ish. (i said "ish") so he takes the money
William Gates is one year younger and he decided to "retire" i.e no more working @ Microsoft.
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mike said 5:47PM on 10-01-2009
I think it is funny that a majority of his money is *not* from Apple. Buying Pixar for $5 million and selling for something like $4 billion in personal profit.
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BJ Nemeth said 7:10PM on 10-01-2009
Steven Sande (who wrote this blog post) understands the salary situation for Steve Jobs, and he's making a *joke* about it in the headline.
CEO salaries were most recently reported for 2008, and Steve Jobs is still earning the lone $1:
http://www.theage.com.au/news/technology/biztech/jobs-salary-still-1-as-holdings-tumble/2009/01/08/1231004166533.html
I thought the headline was funny and appropriate. Good job, Steven!
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Pylon83 said 7:02PM on 10-01-2009
Steve is incredibly smart (and has good financial advisers/attorneys). Salary is taxed at normal income tax rates; capital gains, like those made on the enormous stock options Steve gets, are taxed at 15% (as long as you hold them for a year).
Steve also owns some 5mil shares of Apple and 138mil shares of Disney.
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Jenny said 2:20AM on 10-02-2009
That's how you're suppose to do it. Get your money to make money for you.
Steve's salary maybe be officially the $1 at Apple, but a majority of stock pay dividends. Just how much does Disney pay out in dividends? I know Apple doesn't because I've yet to receive anything for my share.
Aek said 3:42AM on 10-02-2009
Is the Apple Inc. corporate jet called the iJet? :)
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