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How does Steve Jobs make his living?

post #1 of 26
Thread Starter 
Apple pays him $1 a year. No options. Once in a while, he gets a nice jet, but Apple hasn't paid him any other bonuses or options for a while.
He has a job as the head of Pixar; does that pay his bills:? It's just hard to imagine the Big Cheese without an expensive home and a nice car.
post #2 of 26
err.. examine the apple financials...

Salary: $1

Bonus: some outrageous amount, I believe $50 million?
post #3 of 26
When you're a multimillionaire, you can literally live on the interest/dividends your money/stocks generate. In the case of a multi-billionaire, it's even easier.
post #4 of 26
According to Yahoo Financial ( <a href="http://biz.yahoo.com/p/a/aapl.html" target="_blank">http://biz.yahoo.com/p/a/aapl.html</A> ), SJ gets $90M a year from Apple alone. He apparently only makes $100 ($0.1K)a year from Pixar ( <a href="http://biz.yahoo.com/p/p/pixr.html" target="_blank">http://biz.yahoo.com/p/p/pixr.html</A> )

Total: $90,000,100

[ 12-26-2001: Message edited by: CosmoNut ]</p>
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post #5 of 26
[quote]Originally posted by CosmoNut:
<strong>According to Yahoo Financial ( <a href="http://biz.yahoo.com/p/a/aapl.html" target="_blank">http://biz.yahoo.com/p/a/aapl.html</a> ), SJ gets $90M a year from Apple alone. He apparently only makes $100 ($0.1K)a year from Pixar ( <a href="http://biz.yahoo.com/p/p/pixr.html" target="_blank">http://biz.yahoo.com/p/p/pixr.html</a> )

Total: $90,000,100

[ 12-26-2001: Message edited by: CosmoNut ]</strong><hr></blockquote>

The $90M for FY2000 was the Gulfstream V Jet given to Steve. His salary is only $1 at Apple. So his yearly salary (both Apple and Pixar) is $101. Like others have said, however, he must make a living off his interest and dividends.
post #6 of 26
A Gulfstream V costs $90 Million?
post #7 of 26
Yeah between all the money he got when he sold off his apple stock when he sold it back after he resigned from Apple, and his huge stake in Pixar, money is no problem for him.
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post #8 of 26
How come he only gets $1 from Apple?
post #9 of 26
[quote]Originally posted by MacAgent:
<strong>A Gulfstream V costs $90 Million?</strong><hr></blockquote>

No, he also received some stock options if I remember correctly.
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post #10 of 26
[quote]Originally posted by roger_ramjet:
<strong>No, he also received some stock options if I remember correctly.</strong><hr></blockquote>

OK, 'cause I was gonna say...

[ 12-26-2001: Message edited by: MacAgent ]</p>
post #11 of 26
he received 500million in stock options making him the highest "paid" CEO of last year
post #12 of 26
[quote]Originally posted by MacAgent:
<strong>A Gulfstream V costs $90 Million?</strong><hr></blockquote>

"In Apple's fiscal year 2000, for instance, the company decided to give Jobs a Gulfstream V jet worth $43.5 million, as well as $40.5 million to pay for the taxes and other costs associated with granting the plane."

<a href="http://www.zdnet.com/zdnn/stories/news/0,4586,5101047,00.html?chkpt=zdhpnews01" target="_blank">From current ZDNut article...</a>
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post #13 of 26
You should also consider that Apple purchased NeXT, which was a privately owned company, with Steve Jobs as a majority shareholder, for $400 million.

Let's be conservative nad say Steve Jobs only owned 25% of the company, that's $100 million. $100 million sitting in even a low-yielding account earning 1 percent a year interest is $1 million - VERY easy to live on a million dollars - that buys a lot of blue jeans and mock turtlenecks Everything else (expense-wise) is paid for by Apple/Pixar.
post #14 of 26
[quote]Let's be conservative nad say Steve Jobs only owned 25% of the company, that's $100 million. <hr></blockquote>

That makes him able to buy like, 128MB of RAM from the Apple Store!
post #15 of 26
NeXT was a privately owned company? Are you sure? I seem to recall NeXT going public early on with Steve Jobs and Ross Perot as major shareholders, with little for the actual employees of NeXT. Then NeXT was bought by Apple for 400m total, and Steve got something like 150m as a major shareholder, some of it in Apple stock which he sold at $12 or $14 a share just before it doubled to $30...about the same time my Dad sold his shares of Apple after making a slight profit...if he only held onto it, I'd be cruising along with a Quicksilver right now .

According to Forbes, Jobs is worth 1.4B. Assuming he has a paltry 14M (one hundredth of his total net worth), on some government and corporate bonds paying 5%, he would make seven hundred thousand dollars a year (700K)...not shabby.

I assume that 700K will cover a few new German sports cars and a nice college for the kids.
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post #16 of 26
NeXT was privately financed by venture capitalists like Perot. Jobs obviously owned a lot too, though I don't think he was anywhere near a majority stockholder.

Anyhoo, the unbelievably rich are not like you and me. They do not get paid per hour ( ) nor do they get much of a salary most of the time. Oh, sure, they might get $1 million as a way of saying "I'm another working stiff like you!" but they make an order of magnitude more in the equity they own. Equity generates more equity and can be cashed in at the appropriate time for greenbacks. (reminds me of, "Money can be exchanged for goods and services." "Woo-hoo!") Jobs can easily dip into his investments, sell a measly amount of stock, buy a car with cash in hand and barely make the balanace sheets burp.
post #17 of 26
[quote]Originally posted by MacAddict:
<strong>NeXT was a privately owned company? Are you sure?</strong><hr></blockquote>

I was a stock researcher, so yeah, I'm sure.

[ 12-26-2001: Message edited by: Kestral ]</p>
post #18 of 26
What do you suppose Steve does with his ONE dollar?

1. Frame it and hang it on his office wall with the others?
2. Deposit it into his personal checking account?
3. Combine it with the others to save up for an Extra Value Meal from McD's?
4. Give it to the poor?
5. Shred or burn it?
6. Hide it in a random iMac during production?
7. Put it in a Salvation Army bucket somewhere?
8. Bury it in the sand of a California beach?
9. Spend it on a Coke at a baseball game?
10. Buy a 20min. long distance call w/ 10-10-220? (that'd actually be a cool ad!)
11. Eat it? <img src="graemlins/bugeye.gif" border="0" alt="[Skeptical]" />

EDIT:

"What's up Steve?"
"Well, I just got paid my dollar for this year as CEO of Apple Computer, but I can't figure out what to do with it."
"Hey, just use 10-10-220 to get a 20 minute call for only 99 cents."
"99 cents! Wow! Thanks, man!"

He he

[ 12-27-2001: Message edited by: CosmoNut ]</p>
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post #19 of 26
I'm more curious about hwo they pay him. Do you think he gets a check in the mail at the end of each year?

Or maybe at the end of each financial quarter one of the board member tosses him a shiny new quarter and congratulates him on a job well done.

Perhaps he gets a check every two weeks. This check would be for 1 cent, and he wouldn't get paid for four pay cycles (2 months).
post #20 of 26
Steve Jobs' net worth is approximately 1.1-1.3 billion.

[ 12-27-2001: Message edited by: Codename ]</p>
post #21 of 26
post #22 of 26
Well, as far as why $1? It was basically a statement about him being at Apple for more than the money, and it really screwed Gil's image since he was in legal fights with Apple over his salary.

As far as the jet, yeah, it was way expensive, but look at the collateral expenses of past CEOs, not just the cost of their salary, but add their stock sales, used options, golden parachutes, the buy out their estates [Apple bought Gil's home estate out east and then built him a new out on the west coast and covered his moving expenses], as well as the various other consolation positions they held [Scully was Chairman or something after he gave up CEO to Spindler] ... and well it adds up.

Oh and also regarding the jet, they used to use Markula's all the time and pay him for its use, so the one time investment was probably not that bad a deal.

In terms of stock options, till he uses em they don't really add to his worth, and right now a lot of those options are priced way above the current stock prices, which it means that he is at a loss right now.
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post #23 of 26
Actually he is not paid just $1.00 anymore; Mrs Jobs wanted more money to spend; so the board gave him a plane and $800 million in options plus probably a lot more which is not disclosed. Also he makes a lot of money with Pixar.

You guys should be careful is what a person is worth and what they actually have in the bank.

You do not pay your bills with what you are worth.
post #24 of 26
Miss Jobs earns the cash!
Oh yah one more thing,

Steve Jobs earned $1 salary in 2001

By <a href="http://www.macworld.co.uk" target="_blank">Macworld</a> staff

As usual, Apple CEO Steve Jobs was paid just $1 in the past fiscal year. However, other top Apple executives were each rewarded with options for one million shares, according to a filing with securities regulators.

The CEO?s $1 salary in 2001 was the same salary he has drawn since 1999, the company said in its annual report filed with the Securities and Exchange Commission (SEC).

Chief financial officer Fred Anderson, senior software engineer Avie Tevanian, senior hardware engineer Jon Rubinstein, and head of sales Timothy Cook were granted one million share options - after having not been granted any such payment in 2000. Apple also awarded Cook a special executive bonus of $500,000 for accepting additional duties during the year.

Apple explained that much of its future success depends on the ?continued service and availability of skilled personnel, including those in technical, marketing and staff positions?. The company stated that experienced personnel in the information technology industry ?are in high demand, and competition for their talents is intense, especially in the Silicon Valley, where the majority of the company's employees are located?.

Earnings potential
The ten-year executive options - carrying an exercise price of $16.81 - were worth just over $5 million as of December 26, 2001, and could be worth as must as $26.8 million if Apple shares appreciate by 10 per cent annually, according to the SEC filing.

Anderson drew a base salary of $657,039, down from $660,414 in 2000. Rubinstein was paid $469,737. Tevanian made $460,873, and Cook made $452,219.

Jobs held options for just over 20 million shares in Apple as of October 31, a stake of about 5.7 per cent in the company, Apple said in its filing.

Shares in Apple rallied by 47 per cent in 2001, closing up 13 cents to $21.49 on Boxing Day.

<a href="http://www.macworld.co.uk" target="_blank">Macworld.co.uk</a>

[ 12-28-2001: Message edited by: Alpha Mac ]</p>
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post #25 of 26
[quote]How come he only gets $1 from Apple?<hr></blockquote>

For PR.

Jobs is well compensated, but his $1/yr. salary is a sheepshow like Sam Walton driving around in old beat up Chevy pickups (back when he was still living of course).

(In the interest of full disclosure, Sam Walton was actually a very frugal and business-oriented man while Steve Jobs is essentially the polar opposite. Jobs' move is purely PR motivated, but I don't think Walton was lost on the PR value of his non-corporate demeanor.)
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post #26 of 26
Word at the time was that the $1 salary from Apple entitled him to their health plan, which he supposedly preferred to Pixar's. It's possible.
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