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Steve Job gets $1 and Tim Cook $59 Million
- rick_2047 16y agoSteve jobs knows what is the difference between owning a company and working for a company. When you are an employee you get a fixed salary, when you own a company you get whatever the company makes.
- yoseph 16y agoApple made $14 Billion last year....
- bradleyland 16y agoI believe in that philosophy, personally, but I doubt it has anything to do with why Steve Jobs takes a $1 salary. It's not as if Apple would suffer if he were to take a bigger salary. I think it has more to do with the "Zen" of Steve Jobs. The bottom line is that Steve Jobs doesn't do it for the money, and he has all the money he'll ever need. http://books.google.com/books?id=9zzvMOF4PEwC&pg=PA44&lpg=PA44 http://books.google.com/books?id=9zzvMOF4PEwC&pg=PA44...
- inovica 16y agoApple is the company that Jobs founded and whilst he was ousted (and sold his shares) at the time, I'm sure that it will always be his 'baby'. He obviously loves what he does and doesn't need the money anyway. I can't remember where I read it, but he leads a relatively frugal lifestyle in comparison to his peers. Do what you love I suppose :)
- Encosia 16y agoHe should have received right at $250,000,000 in dividends on his Disney stock since selling Pixar. He's certainly not hurting for cash, frugal or not.
- inovica 16y agoSure, he's certainly not going to need the money from Apple, but it also shows where his passion is that he still accepts $1 from the company and hasn't sold any shares. Whilst not everyone agrees with his methods or what Apple stands for, there's no denying the success that Apple has become since he came back on board and was the catalyst for huge change and growth.
- jpwagner 16y agoWould be more interesting if it were "Joe Blow, CEO of ABC Widget Co." Steve Jobs is such an outlier, we'll still be reading his quotes with Einstein's and Yogi Berra's in 150 years.
- sabat 16y agoI object to any executive making $59 million of the stockholder's money. It either goes back to the stockholders or is reinvested into company operations.
- stuff4ben 16y agoone could argue that giving the executives those shares is investing into company operations.
- sabat 16y agoIt's just investing in the executives. Actually investing in company operations means spending money to get things, not giving away money. Giving Tim Cook a ton of money doesn't actually get Apple anything. He could quit tomorrow and Apple wouldn't feel it at all.
- philwelch 16y agoHe could quit tomorrow and Apple wouldn't feel it at all. If any C-level executive at any corporation could quit tomorrow and the company wouldn't feel it at all, that executive needs to be fired. Employees are an investment like anything else.
- sabat 16y agoIt's a rare employee who is not expendable. Tim Cook is not that employee.
- stuff4ben 16y agoIt seems your argument is that executives don't provide any value to a business. That's a pretty shortsighted view of how a real company works. Just because you didn't get a physical "thing" from paying an exec that kind of money doesn't mean he didn't provide value to the business. I guarantee that if you replace Tim Cook with me at Apple's helm, that the shareholders will feel some pretty significant pain.
- 16y ago
- c2 16y agoTim Cook is worth every penny.
- paylesworth 16y agoYour title is misleading because you're comparing Job's annual salary with Cook's total compensation. If you read the fine print of the article, it clearly states that Cook's annual salary "remained at about $800,000." Later down, the article also shares that Jobs "holds about 5.5 million shares in the company and hasn’t sold any since rejoining." If you wanted to extrapolate Job's current worth based on Apple stock, it would be roughly $1.8 bil. ($334 / share * 5.5mil shares) Anyway, I'm not sure what you were trying to point out with this article, but I don't think Job's is being short-changed. The $1 salary is mainly a PR stunt.
- jonknee 16y agoBut Jobs received no stock this year. Cook received tons ($52.3 million to be exact).