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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Forbes Magazine published their annual "400 Richest Americans" ranking yesterday, and as usual Mr. William Gates of Microsoft leads the...
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Is the Apple Inc. corporate jet called the iJet? :)
October 02 2009 at 3:42 AM Report abuse Permalink rate up rate down ReplySteve 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.
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.
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!
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 Permalink rate up rate down ReplySteve 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.
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.
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 Permalink rate up rate down ReplyFor a guy who doesn't have a work, Bill gates sure is rich. Uber rich. :)
October 01 2009 at 3:41 PM Report abuse Permalink rate up rate down ReplyIf you guys believe he makes $1 a year... you truly are dense.
October 01 2009 at 3:39 PM Report abuse Permalink rate up rate down ReplyHis salary his $1 per year. He doesn't make $1 per year.
Just poor word choice on TUAW's behalf.
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