MacDailyNews - Where Mac news comes first

 MacDailyNews Poll

Deal of the Day

5 Day Most Commented

Opinion Archive

Current Headlines

Latest Joy of Tech

  • Latest Joy of Tech!

MacNN

AppleInsider

Macworld UK

TUAW

MacRumors

Yahoo! Finance AAPL

iTunes Top 10 Albums

Mac OS X Downloads

Sun, Jul 05, 2009 - 12:00 AM EDT  —  AAPL: 140.02 (-2.81, -1.97%)  |  NASDAQ: 1796.52 (-49.20, -2.67%)

Apple’s CEO Steve Jobs took $1 salary again in 2005
Monday, March 13, 2006 - 10:48 PM EDT

"Apple Computer Inc. said Monday that Chief Executive Steven P. Jobs received a $1 salary and no other compensation for fiscal 2005, unchanged from fiscal 2004.. according to a proxy statement filed with the Securities and Exchange Commission," MarketWatch reports. "Jobs' 10 million restricted shares, which were granted to him in 2003, were valued at $532 million at the end of fiscal 2005, Apple said. The valuation was based on $53.20 per share, the closing price of Apple's common shares last Sept. 23. The shares vest in full on the third anniversary of the grant date, subject to Jobs continued employment with the company. Shares of Apple closed Monday at $65.68 each. In addition, Jobs has 120,000 fully vested options that he received in 1997."

Full article here.

Advertisements:
Apple's brand new iPod Hi-Fi speaker system. Home stereo. Reinvented. Available now for $349 with free shipping.
Apple's new Mac mini. Intel Core, up to 4 times faster. Starting at just $599. Free shipping.
MacBook Pro. The first Mac notebook built upon Intel Core Duo with iLife ’06, Front Row and built-in iSight. Starting at $1999. Free shipping.
iMac. Twice as amazing — Intel Core Duo, iLife ’06, Front Row media experience, Apple Remote, built-in iSight. Starting at $1299. Free shipping.
iPod Radio Remote. Listen to FM radio on your iPod and control everything with a convenient wired remote. Just $49.
iPod. 15,000 songs. 25,000 photos. 150 hours of video. The new iPod. 30GB and 60GB models start at just $299. Free shipping.
Connect iPod to your television set with the iPod AV Cable. Just $19.

Related articles:
Secrets behind Apple CEO Steve Jobs' $1 annual salary - February 03, 2006
Apple's CEO Steve Jobs took $1 salary again in 2004 - March 15, 2005
Apple's CEO Steve Jobs took $1 salary again in 2003 - March 11, 2004

Bookmark and Share

Always -- Free ground shipping with orders over $50 at the Apple Store.

Reader Feedback: = registered.
Unregistered users: Feedback from multiple usernames are subject to deletion. Off-topic and posts from suspected astroturfers will be removed.

Mar 14, 06 - 12:11 am Comment from: yowzers

whoa he's loaded

Mar 14, 06 - 12:16 am Comment from: bobb

lucky man

Mar 14, 06 - 12:22 am Comment from: Zillatron

...oh and did we mention that he owns Disney too?

Loaded? hmm yep - i'd say so.

Z

Mar 14, 06 - 12:32 am Comment from: Jooop

How does the big Steve man put food in Steve Jr.'s mouth on only $1 a year? The malaysian chick who made my shoes makes more than that in a single month.

Mar 14, 06 - 12:50 am Comment from: OzzysCross101

**Other executives of "corporate" "America" take notice!!**

Steve Jobs dosn't need a large salary! Its all recycled back into the company!

Something none of you would ever do!

Mar 14, 06 - 01:11 am Comment from: Dave Mac

and worth every penny...

Mar 14, 06 - 01:37 am Comment from: macromancer

I wonder if he gets a paycheck every other week like everyone else. It would be for like less the 2 cents per check. I'd love to see how they deduct federal, state and social security tax lol.

Mar 14, 06 - 01:42 am Comment from: f

Idiotic

Mar 14, 06 - 02:07 am Comment from: Bill Gates

He took $1.

I gave away billions.

Shut the hell up, Mac bitches.

Signed,
The Bill...


Oh I'm just a Bill up on Capitol Hill...

Mar 14, 06 - 02:09 am Comment from: Hawaiian Starman

Why is this "news". Beyond the $1 he's received (definitely deserved) many perks - let's put it this way - he ain't going to be starving any time soon.

Mar 14, 06 - 02:12 am Comment from: Ian

Who cares? After tax he would actualy take home only 70 cents.

Mar 14, 06 - 02:15 am Comment from: Loooong wait for ShortHorn

Does anyone know how much Disney is paying him?

Mar 14, 06 - 02:15 am Comment from: Bob

Steve can work for me any day. Hell I'd pay him 50 bucks a year unless someone can better my offer.

Mar 14, 06 - 03:00 am Comment from: TheConfuzed1

Loooong wait for ShortHorn:
Does anyone know how much Disney is paying him?

As a share holder of about 7% of Disney, he would then earn 7% of the stock's performance, right?

I know that he is on their board, but is he an actual employee?

MW: amount. How fitting.

Mar 14, 06 - 03:00 am Comment from: Peter

As I understand it, he collects his dollar-per-year salary so that he can officially be on Apple's payroll and, thus, get health coverage.

I assume Apple has a pretty good health plan...

Mar 14, 06 - 03:39 am Comment from: The Other Steve

I think it's time they double his salary!

Mar 14, 06 - 03:43 am Comment from: The Other Steve

He must shop at the 99¢ Store.

Mar 14, 06 - 04:18 am Comment from: mac genius

But what percentage of his salary went into his Employee Stock Purchase Program?

Mar 14, 06 - 05:39 am Comment from: M.X.N.T.4.1

I bet he eats all his meals in the Apple cafeteria or something.

Mar 14, 06 - 06:36 am Comment from: Macaday

For each cent he's been payed he's added about a billion dollars to the value of Apple. I doubt there is any CEO in history that could match that achievement...

And as for the comment above that he is 'lucky'.. well, you can figure whether that's correct or not for yourself..

Mar 14, 06 - 07:01 am Comment from: bob

BUY Microsoft lol

Mar 14, 06 - 07:16 am Comment from: Dave H

Apple is breaking the law!!!! It's not right to deny employees the minimum wage.

Evil evil Apple. Down with them, I say!!!

Mar 14, 06 - 08:18 am Comment from: cleversteve...

a very clever move.....

hes getting payed in stocks and options.... its only a tax thing. Hes paying far less taxes on his stocks as on a huge salary...

and then... who wants to sell AAPL shares anyways (except the last months....:-(

and it makes him look like a hero too......very clever indeed

Mar 14, 06 - 08:42 am Comment from: Greg M

It's just a stunt. He milks the company like every other CEO. He puts this $1 salary up there to get good press but rakes in big bucks in other ways. He's all about showmanship.

Mar 14, 06 - 08:44 am Comment from: Macs King

Now we know why iTunes songs are only 99 cents, he gets change back from the single song purchase he makes each year.

I say double his pay so he can buy a video if he wants too.

Mar 14, 06 - 08:52 am Comment from: Ampar

Peter: More specifically, health coverage for his family and himself.

MW: one, as in, I'd buy THAT for a dollar!

Mar 14, 06 - 08:54 am Comment from: Ampar

" . . . so he can buy a video if he wants too."

I'll bet if he asks real nicely, the people that makes those videos will burn a special copy just for him.

Mar 14, 06 - 08:56 am Comment from: Ampar

Dave H: "minimum wage" LOL!

Just in case, Jobs has a job lined up in Malaysia making shoes for Nike. They offered him three times his annual salary. Sweet.

Mar 14, 06 - 09:01 am Comment from: clyde

Ya think THAT'S why he's always wearing the same black turtleneck and jeans?

Mar 14, 06 - 10:10 am Comment from: ron

He is eligible for food stamps.

Mar 14, 06 - 10:18 am Comment from: s

Just out of curiosity. If his income is $1 and rest is options/stock sales, he only pays maximum rate on $1 and capital gain tax on the sales of stocks (something like 10% for federal tax)? Sounds like very good deal for Apple and SJ. Less tax more money in pocket. I'm surprised other CEOs are not doing same thing.

Mar 14, 06 - 10:37 am Comment from: zupchuck

OzzysCross101,

Dream on... Steve is not being altruistic by any means. He's a shrewd businessman. The $1 is more symbolic than anything. Remember SJ's plane?

No CEO ever needs such a large salary. They are attracted to a company by the potential of making large sums of money.

s,

More CEOs are doing the same thing now that stock options are being expensed. And some are taking in big salaries, large bonuses that dwarf salary, receiving restricted stock in addition to the 5% or more ownership stake they have in the company and previous stock options with extraordinarly low strike prices and accelerated vesting.

As Mel Brooks said, "It's good to be the king!"

Mar 14, 06 - 10:39 am Comment from: prut prut

Taking one dollar for your salary is the equivalent of coming up to the plate and pointing out to right-center field and then jacking one out of the park for a walk-off homerun. Total confidence in his work. Total balls..

Mar 14, 06 - 01:07 pm Comment from: The Other Steve

"For each cent he's been payed he's added about a billion dollars to the value of Apple."

Then they should definitely double his salary!

"It's just a stunt. He milks the company like every other CEO. He puts this $1 salary up there to get good press but rakes in big bucks in other ways."

Maybe but, he only gets paid if Apple succeeds. If he doesn't do an "Insanely Great" job, he gets nothing. How many of the "every other CEO's" can you say that applies to?

Reader feedback page 1 of 1 pages:

Always -- Free ground shipping with orders over $50 at the Apple Store.

Add Your Feedback:

Register or Login

Name:

Email: (optional)

Emoticons | Allowed HTML Tags

Remember my info   Notify me of follow-up comments?

Please enter the "MDN Magic Word" you see in the image below: