Apple's Jobs takes $1 salary, but holdings suffer

As he's done for the last decade, Apple Inc. Chief Executive Steve Jobs took home his customary $1 annual salary in 2008, but the economic meltdown and Apple's falling stock price whacked half a billion dollars off the value of his personal holdings in the company.

Apple said in a regulatory filing Wednesday that Jobs, 53, who holds 5.5 million shares of Apple's stock, hasn't sold any of the shares since rejoining the company in 1997. That means what he lacks in annual compensation is made up for in the enormous amount of stock he already holds - a hoard that took a beating in 2008 amid fears about the Mac and iPhone maker's vulnerability to the U.S. recession.

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meepmoopmeep3454d ago

i hope he's gets well soon.

but yeah, wow, $1 salary. lol.
must be nice to rich.

Bnet3433454d ago

lol one dollar. what a poor bum.

SaiyanFury3454d ago

Trust me, he ain't poor. He makes millions off of the people that buy into Apple's lockdown policy with all of the iPods, iPhones, and iMacs that his company spends about 460 million dollars a year pushing and advertising each year. Conversely, his company spends about 15 million per year on R&D for new products and innovation. Seems kind of contradictory for a man who criticized Microsoft for all they spend on advertising.

ultimolu3454d ago

Hope he gets better as well.

Kevin McCallister3454d ago

Check out how different he looks in just a year's time: http://latimesblogs.latimes...

Lord Anubis3454d ago (Edited 3454d ago )

Eh i don't know if it's right for me to say this but the reason Steve gets that salary is in punishment for stealing stock from apple. Any who he is a great visionary up there with Ken.