Sucheta Dalal :Apple CEO Steve Jobs takes $1 salary in 2009
Sucheta Dalal

Click here for FREE MEMBERSHIP to Moneylife Foundation which entitles you to:
• Access to information on investment issues

• Invitations to attend free workshops on financial literacy
• Grievance redressal

 

MoneyLife
You are here: Home » What's New » Apple CEO Steve Jobs takes $1 salary in 2009
                       Previous           Next

Apple CEO Steve Jobs takes $1 salary in 2009  

December 24, 2009

 Apple Inc chief executive officer (CEO) Steve Jobs was paid his customary $1 annual salary in 2009, but Apple's strength through a rough economic climate returned the value of his personal holdings in the company to pre-meltdown levels.

 

Mr Jobs does not get a bonus or reimbursement for perks many other CEOs accept, such as personal security, according to a regulatory filing made yesterday. Apple said it reimbursed Jobs $4,000 for company travel on his $90-million Gulfstream V jet, which he received as a bonus in 1999.

 

That's far less than the $871,000 Apple reimbursed Mr Jobs in 2008. The CEO took nearly six months off in 2009 for medical leave, during which he received a liver transplant. He returned to work at the company's Cupertino, California, headquarters part-time at the end of June.

 

Mr Jobs, 54, holds 5.5 million shares of Apple's stock. He has not sold any shares since he rejoined the company in 1997, nor has he been awarded any new equity since 2003.

 

In 2008, the value of Jobs' stake in the company he founded, was cut in half as investors worried that Apple's pricey gadgets might not fare well through the US recession. But shares of the maker of iPods, iPhones and Mac computers gained about 42% during the 2009 fiscal year that ended in September and at the close of trading yesterday, when Apple's stock reached $202.10, Mr Jobs' holdings were worth about $1.10 billion.
— Yogesh Sapkale

 


-- Sucheta Dalal



 



Recent Comments