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Forbes lists Steve Jobs as 42nd richest American

post #1 of 67
Thread Starter 
Apple chief executive Steve Jobs, with a net worth $6.1 billion, came in 42nd place on Forbes' annual list of the 400 wealthiest Americans.

As Apple stock continues to soar, hitting a record closing high of $287.75 on Wednesday, the news came that Jobs had climbed one spot on Forbes' 2010 list. Jobs' net worth last year was $5.1 billion, down from $5.7 billion the previous two years.

Forbes calculated this years' results in August.

Much of Jobs' wealth comes from being the primary stockholder of Walt Disney Co. According to Forbes, his share of the world's largest media conglomerate is valued at approximately $4.4 billion. Disney acquired Pixar in 2006 through an all-stock transaction. At the time, Jobs owned half of Pixar's stock, which converted into 138 million shares of Disney stock and was worth over $4 billion.

Jobs is well-known for his $1 salary as CEO of Apple, although he routinely receives
post #2 of 67
so...Jobs' Apple stock is valued at 1.7bil?
post #3 of 67
Bill isn't the richest man in the world though. I bet Bill gets tired of being #1 especially since Microsoft stock hasn't really gone anywhere in the last decade.
post #4 of 67
A billion here, a billion there... Soon you're talking about real money!
post #5 of 67
Steve Jobs is a genius at what he does. His value at APPLE is recognized by many in the industry as well as many customers.
As a customer I can say that his Creativeness, marketing and being a Visionary in the computing field are proof he has worked hard and deserves the money he has made.
post #6 of 67
Quote:
Originally Posted by BUSHMAN4 View Post

Steve Jobs is a genius at what he does. His value at APPLE is recognized by many in the industry as well as many customers.
As a customer I can say that his Creativeness, marketing and being a Visionary in the computing field are proof he has worked hard and deserves the money he has made.

One of the not so many CEO's who is really worth his money.
post #7 of 67
Especially when you consider that some of the ones on top of the lists are inheritors.
post #8 of 67
I'm sure that once you get past a certain point ($5bn?) having more wouldn't change your life.
post #9 of 67
Personally i think SJ cares much more about Apple's product, quality, then his wealth.
post #10 of 67
Quote:
Originally Posted by AppleInsider View Post

Apple chief executive Steve Jobs, with a net worth $6.1 billion, came in 42nd place on Forbes' annual list of the 400 wealthiest Americans....

I like that Apple is close to #1 in the US corporate world and their leader is only 42nd wealthiest. It says something about Mr Jobs and something else about Mr Gates, about their priorities.
post #11 of 67
I was surprised to see most of his wealth tied up in Disney. But then again, last time I went to Disneyland I was financially raped. At least when I buy a Mac, it's design and engineering captivates and inspires me long after the purchase.

Apple exemplifies the spirit of entrepreneurism in America. They still behave like a young and hungry company. And they remind us of the power of capitalism.

Just imagine if other companies (the energy and automobile industries come to mind) were as aggressive in pursuing quality and innovation.
post #12 of 67
Quote:
Originally Posted by bugsnw View Post

I was surprised to see most of his wealth tied up in Disney. But then again, last time I went to Disneyland I was financially raped. At least when I buy a Mac, it's design and engineering captivates and inspires me long after the purchase.

Apple exemplifies the spirit of entrepreneurism in America. They still behave like a young and hungry company. And they remind us of the power of capitalism.

Just imagine if other companies (the energy and automobile industries come to mind) were as aggressive in pursuing quality and innovation.

Yeah I wish there were more companies like apple, but as you kind of mentioned, they are usually 100 - 1000 employees strong and mostly University spinn-off's or the like, which are rapidly eaten up by large companies which have to compensate for their lack of innovative people.

Sad story, but makes me all the more fond of apple.
post #13 of 67
I'm sure he'd have a lot more money if he didn't blow it all on drugs and partying.
post #14 of 67
Quote:
Originally Posted by enzos View Post

I like that Apple is close to #1 in the US corporate world and their leader is only 42nd wealthiest. It says something about Mr Jobs and something else about Mr Gates, about their priorities.

Be fair -- Gates is giving away tens of billions through his foundation.
post #15 of 67
Quote:
Originally Posted by bugsnw View Post

Just imagine if other companies (the energy and automobile industries come to mind) were as aggressive in pursuing quality and innovation.

We would have flying cars by now.
post #16 of 67
Relative to the people on that list, Jobs deserves his money. He may be a narcissistic pain in the a$$, but he clearly is a genius and a very hard worker.

Relative to the rest of humanity, I don't think anyone on that list deserves that much money. There are plenty of people who are smart and work hard and who because they weren't in the right place at the right time are not going to make billions. What I'm saying is not that people don't deserve to be rewarded for their productivity -- they absolutely do. What I'm saying is that I don't believe that the distribution of productivity is as wide as the distribution of income.

Put another way -- I'll bet there are several thousand people in the world who are just as smart and hard working as Steve Jobs and who would have done just as well (if not better) than him if they found themselves in his position in life. And if the labor market were so efficient as to find those people, and put them all in the same place and time to compete, then their income/wealth would be very high but not nearly as high as Jobs' are now. But the market cannot possibly be that efficient, and so those thousands of other people did not have the opportunity to compete with Jobs for his position. Instead, circumstances (aka luck) gave Jobs an opportunity that most other people don't get. He had the smarts and was willing to work hard to take advantage of that opportunity (so good for him). But let's not kid ourselves that such opportunities exist for everyone in equal measure.
post #17 of 67
Quote:
Originally Posted by ascii View Post

We would have flying cars by now.

And spend honeymoon on the moon at the beachside of mare tranquillitatis.
post #18 of 67
Quote:
Originally Posted by Rabbit_Coach View Post

And spend honeymoon on the moon at the beachside of mare tranquillitatis.

Fact: Bare Tranquilititties is not the name of any strip club or other such establishment that could use that name. I just looked it up as that is how I first read your post.
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post #19 of 67
Quote:
Originally Posted by bugsnw View Post

I was surprised to see most of his wealth tied up in Disney. But then again, last time I went to Disneyland I was financially raped. At least when I buy a Mac, it's design and engineering captivates and inspires me long after the purchase.

Apple exemplifies the spirit of entrepreneurism in America. They still behave like a young and hungry company. And they remind us of the power of capitalism.

Im still trying to figure out Jobs longterm goal with the Disney stock and board seat? Is ti really just an in with content for Apple HW. If its that simple then Jobs cares very much about Apple in ways Ive never seen a CEO want his company to succeed.

Does he think Disneys stock will explode and it will skyrocket him to the top? I dont think thats likely or his goal. like the Mac to all other PCs and iPhone to all other handsets, Jobs seems to be playing a very different game than everyone else hes compared with.

Quote:
Just imagine if other companies (the energy and automobile industries come to mind) were as aggressive in pursuing quality and innovation.

There would be one model per year with two different trunk sizes, it wouldnt have passenger seats for the first year, it would be milled from a solid piece of aluminium, it would look small yet be more roomy than their competitors, and it could only be driven on specific roads?
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post #20 of 67
Why every time you see jobs in a photo or a video he looks mean and spiteful? I can imagine he is not the nicest person to work for.At least Bill Gates has a foundation he donates money to poor countries. Not Jobs.
post #21 of 67
Quote:
Originally Posted by gerald apple View Post

Why every time you see jobs in a photo or a video he looks mean and spiteful? I can imagine he is not the nicest person to work for.At least Bill Gates has a foundation he donates money to poor countries. Not Jobs.

You do know that Jobs is Syrian and was adopted, right? As luck would have it, I recently found out why he was adopted¡ Here is a video of him as a toddler being mean, spiteful and already wanting to wrestle power and control away from his superiors¡

http://www.youtube.com/watch?v=nGcTXXIz1rc
Seriously now, I don’t see him as mean and spiteful in his pics.
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post #22 of 67
Quote:
Originally Posted by Newtron View Post

Those are mature industries. Consumer electronics is not.

And besides, are you really ignoring the innovations in cars since 1983 or so? They are night and day compared to 1980's cars.

To my mind, the innovation in autos has just begun. I drive a hybrid now and it's pretty amazing. But there's a far wider spread between computers of 1983 and today vs. cars of the same time line. Computers have become smaller, faster, cheaper and more energy efficient over time. To a degree that shames the auto industry.

"Mature" in the way you used it just refers to management that have not pushed very hard in regards to innovation and quality. Or perhaps they stopped focusing on world-class engineering and sought to improve the bottom line at all costs.

Mature or not, had Steve Jobs been at the helm of, say, GM, we'd be driving much different cars than we do today. It's that pesky Visionary thing that Jobs possesses.
post #23 of 67
Quote:
Originally Posted by bugsnw View Post

"Mature" in the way you used it just refers to management that have not pushed very hard in regards to innovation and quality. Or perhaps they stopped focusing on world-class engineering and sought to improve the bottom line at all costs.

I recall mature being the primary and initial argument used by posters like Newtron after the iPhone and iPad were announced. How was Apple, a PC company, going to come in and figure it out? Three years later they have 40% of the total profits from all handsets worldwide.
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post #24 of 67
Quote:
Originally Posted by Mac_Keeper_Fan_Mod View Post

Steve started NeXT and Pixar with money out of his own wallet. If steve had given too much to charity in the late 70s and early 80s: Steve might not be at apple now and pixar would have never existed.

So don't blame him too much for not giving billions to charity. He'll probably do something worthwhile with the money anyway.

Ross Perot (another billionaire when it wasn't so fashionable) was also a major investor in NeXT. Whatever happened to that guy? Ross also helped Bill Clinton get into office.
post #25 of 67
"Notorious" is generally an unfavorable term. I think most people think Jobs not taking a salary as a positive characteristic. He certainly could take one if he wanted.

Quote:
Originally Posted by AppleInsider View Post

Jobs is notorious for his $1 salary as CEO of Apple, although he routinely receives
post #26 of 67
Quote:
Originally Posted by solipsism View Post

There would be one model per year with two different trunk sizes, it wouldnt have passenger seats for the first year, it would be milled from a solid piece of aluminium, it would look small yet be more roomy than their competitors, and it could only be driven on specific roads?

LOL... yeah, good point. Mirroring Jobs' growth over the years, Apple's autos would, until recently, have left the assembly line with one pedal. If you pushed it, you'd accelerate. To brake, you'd have to hold down a button on the dash while pushing the pedal.

Apple would eventually offer models with two pedals, but they wouldn't be mechanical. Just a smooth surface and intelligent sensors for your feet to work with.

Revolutionary new compact models would outsell all the competition and create a new standard. But they wouldn't have a high beam Flash feature, so pundits would be predicting gloom and doom.
post #27 of 67
Why does there have to be a goal? If I sell something to you you are going to pay me for it. That is all that happened here. Jobs sold Pixar to Disney and it paid him in stock. As the largest single person stock holder of Disney, it is understandable Jobs would have a seat on the Board to keep track of his investment. Since his fortune is largely in Disney stock, he wants to Disney to become more valuable. That is the goal.

Quote:
Originally Posted by solipsism View Post

Im still trying to figure out Jobs longterm goal with the Disney stock and board seat? Is ti really just an in with content for Apple HW. If its that simple then Jobs cares very much about Apple in ways Ive never seen a CEO want his company to succeed.

Does he think Disneys stock will explode and it will skyrocket him to the top? I dont think thats likely or his goal. like the Mac to all other PCs and iPhone to all other handsets, Jobs seems to be playing a very different game than everyone else hes compared with.


There would be one model per year with two different trunk sizes, it wouldnt have passenger seats for the first year, it would be milled from a solid piece of aluminium, it would look small yet be more roomy than their competitors, and it could only be driven on specific roads?
post #28 of 67
Quote:
Originally Posted by solipsism View Post

Im still trying to figure out Jobs longterm goal with the Disney stock and board seat? Is ti really just an in with content for Apple HW. If its that simple then Jobs cares very much about Apple in ways Ive never seen a CEO want his company to succeed.

Does he think Disneys stock will explode and it will skyrocket him to the top? I dont think thats likely or his goal. like the Mac to all other PCs and iPhone to all other handsets, Jobs seems to be playing a very different game than everyone else hes compared with.

C'mon Soli I'm sure you've heard of dividends and owning 7% of Disney must pay some great dividends along with all the Apple shares he owns. Why sell when you have a lifelong source of income like that?
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post #29 of 67
Quote:
Originally Posted by bugsnw View Post

LOL... yeah, good point. Mirroring Jobs' growth over the years, Apple's autos would, until recently, have left the assembly line with one pedal. If you pushed it, you'd accelerate. To brake, you'd have to hold down a button on the dash while pushing the pedal.

Apple would eventually offer models with two pedals, but they wouldn't be mechanical. Just a smooth surface and intelligent sensors for your feet to work with.

Revolutionary new compact models would outsell all the competition and create a new standard. But they wouldn't have a high beam Flash feature, so pundits would be predicting gloom and doom.

Actually, I read about a new idea in gas and break pedals that was pretty interesting. Its our natural instinct to push down when we need to break, so having the gas pedal on top of the brake pedal, but controlled via a sideway motion of the foot would prevent undue acceleration. Ill see if can find a link to it.


Quote:
Originally Posted by TBell View Post

Why does there have to be a goal? If I sell something to you you are going to pay me for it. That is all that happened here. Jobs sold Pixar to Disney and it paid him in stock. As the largest single person stock holder of Disney, it is understandable Jobs would have a seat on the Board to keep track of his investment. Since his fortune is largely in Disney stock, he wants to Disney to become more valuable. That is the goal.

Quote:
Originally Posted by dasanman69 View Post

C'mon Soli I'm sure you've heard of dividends and owning 7% of Disney must pay some great dividends along with all the Apple shares he owns. Why sell when you have a lifelong source of income like that?

That is my point, desanman69. He was getting paid well from Pixar (or could have if he wanted) so I doubt the dividends and Disney stock in and of themselves were his reasons for the board seat. I think its deeper. Yes, TBell, I think there has to be a goal. I cant imagine that kind of sale with that kind of result not having a big picture attached to it. I think there is a long term game that Jobs is playing that goes far beyond the need for the Disney umbrella, which includes ABC. Maybe its not related to Apple at all, maybe he just believes in Disney to make Pixar even greater thus making his stock value even higher. Maybe his vision on this matter is that simple and limited.
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post #30 of 67
Quote:
Originally Posted by Newtron View Post

Some people feel inadequate no matter how much they have.

Heed the voice of experience, everyone.

Oh, right, almost forgot...

post #31 of 67
His net worth is going up today. AAPL up over $4 and approaching $300/share.
post #32 of 67
Quote:
Originally Posted by Newtron View Post

It depends on what you want to buy. That 4 Billion dollar private island in the Bahamas would be out of Steve's reach, unless he is able to get richer. His friends probably make his wealth look like nothing. Some people feel inadequate no matter how much they have.

I'm pretty sure even private islands don't cost that much. The US is the richest country, and he is in the top 50. If something is priced out of his reach they are not serious about selling it in the first place.
post #33 of 67
Quote:
Originally Posted by solipsism View Post

That is my point, desanman69. He was getting paid well from Pixar (or could have if he wanted) so I doubt the dividends and Disney stock in and of themselves were his reasons for the board seat. I think its deeper. Yes, TBell, I think there has to be a goal. I cant imagine that kind of sale with that kind of result not having a big picture attached to it. I think there is a long term game that Jobs is playing that goes far beyond the need for the Disney umbrella, which includes ABC. Maybe its not related to Apple at all, maybe he just believes in Disney to make Pixar even greater thus making his stock value even higher. Maybe his vision on this matter is that simple and limited.

Owning that much stock is exactly why he has a seat. If you or I owned that much Disney stock we'd have as seat on the BoD as well. We might have much say in how the company is run but we'd be privy to information. Shoot if I can have a man with the insight and ideas of SJ on my BoD I'd do it in a heartbeat. BTW my board consists of me and my 4 yr old son lol.
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"Just because something is deemed the law doesn't make it just" - SolipsismX
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"Just because something is deemed the law doesn't make it just" - SolipsismX
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post #34 of 67
Quote:
Originally Posted by Newtron View Post

It depends on what you want to buy. That 4 Billion dollar private island in the Bahamas would be out of Steve's reach, unless he is able to get richer. His friends probably make his wealth look like nothing. Some people feel inadequate no matter how much they have.

If you have $6.1 billion dollars, you can afford to spend $4 billion on an island if you want. I'm pretty sure you can live comfortably on the remaining $2.1 billion. You just can't buy 2 $4 billion islands.
post #35 of 67
Quote:
Originally Posted by solipsism View Post

Fact: Bare Tranquilititties is not the name of any strip club or other such establishment that could use that name. I just looked it up as that is how I first read your post.

Had a good glass of wine, did you sol.
post #36 of 67
Quote:
Originally Posted by AppleInsider View Post

Jobs is notorious for his $1 salary as CEO of Apple

Notorious? Really?
Please don't be insane.
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Please don't be insane.
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post #37 of 67
Quote:
Originally Posted by Rabbit_Coach View Post

Had a good glass of wine, did you sol.

LOL I typed the first thing that came to mine before my morning coffee could invoke my thoughts-to-words filter.
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post #38 of 67
The story here for me is that there are 41 Americans who have more than $6.1 billion. Whew!
post #39 of 67
Quote:
Originally Posted by malax View Post

If you have $6.1 billion dollars, you can afford to spend $4 billion on an island if you want. I'm pretty sure you can live comfortably on the remaining $2.1 billion. You just can't buy 2 $4 billion islands.

Sure you can, ever hear of a loan?
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"Just because something is deemed the law doesn't make it just" - SolipsismX
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"Just because something is deemed the law doesn't make it just" - SolipsismX
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post #40 of 67
Quote:
Originally Posted by solipsism View Post

LOL Typing the first thing that came to mine before my morning coffee could invoke my thoughts-to-words filter.

BTW Soli I know how many bowling balls were sold to people who also purchased tissue paper.
"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
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"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
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