News
Apple’s Steve Jobs highest-paid CEO of 2006
Although he only took $1 in salary, Apple CEO Steve Jobs was America’s highest-paid chief executive of 2006. Forbes reports that Jobs received $647 million in total compensation thanks to vested restricted stock. The next four top-paid CEOs also earned most of their pay from exercised stock options—Ray Irani of Occidental Petroleum ($322 million), Barry Diller of IAC/Interactive Corp ($295 million), William P. Foley of Fidelity National Financial ($180 million), and Terry Semel of Yahoo! ($174 million). Forbes said CEO pay in the U.S. was up a collective 38% last year, to $7.5 billion.
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1
Wow, I guess all of those who are calling for Corporate biggies to give up their obscene payments for the good of their employees and the country have a new target. Let’s see if the leftish Job’s gets hammered by the loons as well. He can try and pawn off the $1 salary, but obviously he doesn’t need a regular paycheck what with all the FICA they take out anyway. And just for those who may come out and say it, I don’t begrudge Job’s his income (hope someday it will be mine too) just wondering when the double standard will be dropped seeing as he made more than any of the Oil Execs we always here pilloried in the media.
Posted by Travis Atkinson on May 4, 2007 at 9:21 AM (PDT)
2
...plus Steve gets free iPods!
Posted by mwilgar on May 4, 2007 at 9:31 AM (PDT)
3
Maybe he will personally subsidize the iphone?
Posted by no name on May 4, 2007 at 10:26 AM (PDT)
4
Philanthropy!?!
Posted by coprock on May 4, 2007 at 10:41 AM (PDT)
5
That’s an obscene amount of money, but I don’t think this is as bad as a straight salary like many CEOs get. This way, he only gets a ton of money if the company does well under his leadership. This motivates him to make the company profitable which in turn is good for every employee pretty much. Unlike straight salary where CEOs who make bad decisions still make a ton and even get more when they’re “let go.” Still, that’s a lot of money.
Posted by Joshdude in Long Beach, CA on May 4, 2007 at 2:46 PM (PDT)
6
Jobs also outperformed all other CEOs. It’s also worth pointing out that Jobs probably has to pay for the stock if he wants it—though at a much lower price no doubt than the current $100 price.
Posted by technolawyer on May 4, 2007 at 8:22 PM (PDT)
7
Ummm who cares? I don’t, not with the amount of cash ol’ Steve has made me from my long before split Apple stock I got back at $12ish a share, then doubled my shares, now they are $100ish each?? Yeah, in all honesty I don’t think stockholders give a damn how much the CEO gets as long as their retirement funds are rolling in from his success. It only matters when you find out that the stock is at its lowest in 20 years but the CEO still walks away with $100+ million in salary…
Nuff said on this subject.
Posted by Brian James on May 6, 2007 at 7:27 PM (PDT)
8
Case in point, look at the stock price over the past 5 years… if you were a long term investor, would you care what Steve made this year, or how much YOU have made???
http://www.marketwatch.com/tools/quotes/intchart.asp?symb=AAPL&time=12&freq=1∁=&compidx=aaaaa~0&compind;=&uf=0&ma;=&maval;=&lf=1&lf2;=&lf3;=&type=2&size=1&txtstyle;=&style;=&submitted=true&intflavor=basic&origurl;=/tools/quotes/intchart.asp
Posted by Brian James on May 6, 2007 at 7:30 PM (PDT)