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He sold his stock in protest over being fired--again, for principle, not money. With $46B cash and short term holdings in the bank, I'm sure shareholders would
by siglesias 16y ago
He sold his stock in protest over being fired--again, for principle, not money.
With $46B cash and short term holdings in the bank, I'm sure shareholders wouldn't bat much of an eye if Jobs compensated himself with a little bit more than $1/year, as Ellison and many other tech execs do. Jobs doesn't take that cash.
The last point I'm going to make is that it's probably immaterial to the argument the exact cause of the disparity. The fact that people point at Jobs and accuse him of not being more philanthropic indicates that they are ignorant of his cash position.
- kenjackson 16y agoSelling your stock over being fired is not a principled stand. At least not in the conventional way of thinking about it. Plus he has on occassion been labelled the highest paying CEO in the world, due to his stock options. http://www.forbes.com/lists/2007/12/lead_07ceos_Steven-P-Jobs_HEDB.html http://www.forbes.com/lists/2007/12/lead_07ceos_Steven-P-Job... And in any case, most CEOs don't make a HUGE salary. Jobs would probably get paid $750k. The fact that he doesn't make this money is (a) hardly a dent in his wallet and (b) doesn't really make any effect on wealth allocation.
- pavs 16y ago> And in any case, most CEOs don't make a HUGE salary. You should check out the banking industry.
- tsycho 16y agoActually, even in the banking industry, most CEOs have a salary between $0.6-1 million/year. The real money is in the bonus.
- pavs 16y agoI think they accept such salaries because they know that the total compensation is much much higher. If there were no bonuses they would not accept such salaries. http://money.cnn.com/news/specials/storysupplement/ceopay/ http://money.cnn.com/news/specials/storysupplement/ceopay/
- qq66 16y agoHe sold his stock because he thought that Apple stock without him was worthless. He was right. Now, Apple is trying to convince the market that the new Apple can function without Steve Jobs. People want to believe, but it's far from certain.
- siglesias 16y agoI agree with you in principle, that his leaving ultimately doomed the company, but the stock price did go up when he left, and stayed up for many years.