Apple CEO May Get a Raise
Apple CEO May Get a Raise
by , 9:15 AM EST, November 16th, 2007
Apple CEO Steve Jobs may be the driving force behind his company's success, but he only draws a US$1 salary each year. The Mac and iPod maker's annual report for fiscal 2007 hints that Mr. Jobs may finally be due a raise, according to CNET News.
The report Apple filed with the SEC Thursday afternoon stated "Because Mr. Jobs's continued leadership is critical to Apple, the Compensation Committee is considering additional compensation arrangements for him."
While that may include a bigger paycheck, it more likely means that the company is lining up some other perks to throw Mr. Jobs's way. In 2000, Apple dropped a $46 million Gulfstream V jet in his lap, and he already holds 5.5 million shares of the company's stock.
Apple isn't talking about what it has in store for Mr. Jobs, but odds are it's even better than a free iPhone.
Observer Comments
Fri Nov 16, 2007 11:08 am Subject: Cue the trolls
He should make more... he probably has made enough and I think this sets a good example. Leadership is often a quality one can never buy, but that you often pay for (and probably dont get).
$2/year would be a good raise.
Of course the jet and stock options make even a regular 7 figure salary look TINY!
I wonder if he gets free iTunes songs... I am sure Steve won't be bothered by a raise, and frankly I don't know why CEOs and other high level executives who already have that kind of money in the bank ever take the salaries they do, it's not necessary and could be used for better in, or outside the company.
Steve himself said of Bill Gates a few months ago:
QuoteI think the world is a better place because Bill realized that his goal isn't to be the richest guy in the cemetery. Right? That's a good thing.
I couldn't agree more.
Just a reminder of what Macworld wrote back on May 4, 2007:
"Steve Jobs’ $1 salary was dwarfed by $646 million in stock compensation for 2006, Forbes magazine said Friday, ranking the Apple CEO as the highest-paid executive in the U.S.
"In its annual CEO paycheck scorecard of America’s 500 biggest companies, Forbes said the $646.6 million for Jobs was more than twice the compensation of the next person on the list: Ray Irani of Occidental Petroleum, who took home $321.6 million — the bulk of it from exercised stock options."
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