Steve Jobs Annual Salary 1

Steve Jobs’s $1 Annual Salary – A Thought for Today’s CEOs

There is no doubt about it that the enigma behind Apple' success is Steve Jobs and his "methodology" that was described by his former nemesis John Sculley, Apple CEO from 1983 to 1993, as "different from everyone else's since he always believed the most important decisions you make are not the things you do, but the things that you decide not to do."
The visionary who lost his bout with pancreatic cancer on Oct. 5 had an annual salary of $1.00 and not $1 million or $1 billion a year.


He was one of the lowest-paid CEOs of all times, along with Vikram Pandit of Citigroup Inc., according to an analysis of corporate institutions conducted by the Associated Press in the Standard & Poor's 500s in 2010.

The analysis included chief executive officers of companies in 2009 and 2010 which filed proxy statements with the Securities and Exchange Commission.

The basis of the AP's compensation formula was an entirety of "salary, perks, bonuses, preferential interest rates on pay and company estimates for the value of stock options and stock awards."

While Jobs was underpaid, the WSJ revealed that in 2010 the revenue of Apple, Inc. increased from 52% to $65.2 billion while Apple's net income grew 70% to about $14 billion. Its cash and cash equivalents in marketable securities rose by $17 billion to about $51 billion at the end of 2010. Apple's share price rose yet another 53% to $322.56 during calendar 2010.

Certainly, Jobs does not fall under the category of the "wealthy U.S. citizens" whom Wall Street protesters were denouncing in mass protest actions in New York and other places.

The Associate Press reported that the demonstrators have spoken mostly about unemployment and economic inequality.

An SEC filing clearly indicated that Jobs held some 5,546,451 shares in a trust. The shares in the same proxy materials from the year before were listed as 5,546,451, which clearly showed that his share count has not even gained.

The end of 2009 share price of $210.73 gave Steve Jobs a value a year ago of $1,168,803,619.23. The 2010 end of year price of $322.56 gave Steve Jobs an end of 2010 balance of $1,789,063,234.56 denoting that his stock grew by $620,259,615.33.

Source:http://au.ibtimes.com/articles/226816/20111007/steve-jobs-1-annual-salary-thought-ceos.htm