Apple’s formidable founder and CEO Steve Jobs has continued to take a measly $1 annual salary from the Cupertino-based tech giant, a new SEC filing has revealed.
Jobs, who has taken a $1 annual payoff from Apple for each of the past ten years, receives hefty stock-based compensation for his work fronting the company that in the past year launched the iPhone 4, latest MacBook Air and the market dominating iPad tablet.
Having formerly owned as many as 15 million Apple shares the recent SEC filing shows that the turtleneck-wearing gadget overlord current holds around 5.5 million shares of Apple stock, valued in the region of $1.8 billion (£1.15 billion). Reported to have not sold a single Apple share since rejoining the company in 1997 the SEC filing stated Jobs’”level of stock ownership significantly aligns his interests with shareholders’ interests.”
Asides from his hefty Apple ownership stakes, Jobs’, who is the largest shareholder of Disney, is kept afloat by his 138 million shares in the animation company garnered during Pixar’s sales to the cartoon-creating great. His $5.4 billion (£3.46 billion) stake in Disney earned Jobs $55 million (£35 million) in dividends last year alone. That’s a whole lot of shiny iDevices.
Posted by Luke Johnson