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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...


Forbes Magazine published their annual "400 Richest Americans" ranking yesterday, and as usual Mr. William Gates of Microsoft leads the...
 

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Aek

Is the Apple Inc. corporate jet called the iJet? :)

October 02 2009 at 3:42 AM Report abuse rate up rate down Reply
Brad

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.

October 01 2009 at 7:02 PM Report abuse rate up rate down Reply
1 reply to Brad's comment
Jenny

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.

October 02 2009 at 2:16 AM Report abuse rate up rate down Reply
BJ Nemeth

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!

October 01 2009 at 5:59 PM Report abuse rate up rate down Reply
mike

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.

October 01 2009 at 5:47 PM Report abuse rate up rate down Reply
ivanpertsev

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.

October 01 2009 at 3:54 PM Report abuse rate up rate down Reply
Chinook

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.

October 01 2009 at 3:51 PM Report abuse rate up rate down Reply
1 reply to Chinook's comment
michaelbushnell

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.

October 01 2009 at 4:24 PM Report abuse rate up rate down Reply
Lindt Dale

For a guy who doesn't have a work, Bill gates sure is rich. Uber rich. :)

October 01 2009 at 3:41 PM Report abuse rate up rate down Reply
Shawn

If you guys believe he makes $1 a year... you truly are dense.

October 01 2009 at 3:39 PM Report abuse rate up rate down Reply
1 reply to Shawn's comment
Stephen.4

His salary his $1 per year. He doesn't make $1 per year.
Just poor word choice on TUAW's behalf.

October 01 2009 at 3:43 PM Report abuse rate up rate down Reply
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