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MacBytes
Sep 22, 2006, 04:50 PM
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Category: Reviews
Link: The 400 Richest Americans
#49 Steven Paul Jobs (http://www.macbytes.com/link.php?sid=20060922175057)
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Posted on MacBytes.com (http://www.macbytes.com)
Approved by Mudbug

PCMacUser
Sep 22, 2006, 04:54 PM
Meh. Maybe he's got enough to spare some for charity now? Or does he already do that?

WildCowboy
Sep 22, 2006, 05:03 PM
Thread cross-reference: I posted (http://forums.macrumors.com/showthread.php?t=236218) this yesterday.

iMikeT
Sep 22, 2006, 06:12 PM
Meh. Maybe he's got enough to spare some for charity now? Or does he already do that?



I don't think Steve Jobs has to give to charity considering that Bill Gates is technically doing it for him.

Max on Macs
Sep 22, 2006, 07:03 PM
Why should he give to charity? WHY? His own money, to scum? He pays taxes, I'm sure!

devilot
Sep 22, 2006, 07:11 PM
Why should he give to charity? WHY? His own money, to scum?So people who that charities give to are scum? I have to say that I disagree with that statement and sentiment.

solvs
Sep 22, 2006, 11:27 PM
His own money, to scum?
Wow... really? God forbid anything ever happen to you where you need help. Actually Jobs does give money, he just doesn't publicize it as much as others. Unlike Paul Allen, who has always seemed pretty generous, Gates didn't start giving money until his wife and parents convinced him he should. He used to be criticized for being stingy, but his money does do a lot of good now. He still doesn't tip though. :rolleyes:

Also nice to see the rich are getting richer, while the rest of us... well, not so much.

plinkoman
Sep 23, 2006, 12:32 AM
Why should he give to charity? WHY? His own money, to scum? He pays taxes, I'm sure!

you're joking, right?

iMacZealot
Sep 23, 2006, 12:35 AM
Wow... really? God forbid anything ever happen to you where you need help. Actually Jobs does give money, he just doesn't publicize it as much as others. Unlike Paul Allen, who has always seemed pretty generous, Gates didn't start giving money until his wife and parents convinced him he should. He used to be criticized for being stingy, but his money does do a lot of good now. He still doesn't tip though. :rolleyes:

Also nice to see the rich are getting richer, while the rest of us... well, not so much.

I admire the wealthy that give money to charity but don't stick it into our faces. Lindsay Lohan gave a bunch of money to the Red Cross during Katrina and she didn't make a big to-do about it whereas Hillary Duff made sure that every last person knew that she had given $250k to them.

TimDaddy
Sep 23, 2006, 02:53 AM
Why should he give to charity? WHY?
Maybe to go with the bleeding heart liberal routine. He doesn't want to be part of the evil rich elite, does he?

Max on Macs
Sep 23, 2006, 05:19 AM
Maybe to go with the bleeding heart liberal routine. He doesn't want to be part of the evil rich elite, does he?
I dunno about him, but I do.

MattDell
Sep 23, 2006, 07:47 AM
I thought Jobs was only paid $1/year.

rockthecasbah
Sep 23, 2006, 07:48 AM
I thought Jobs was only paid $1/year.
He does but he has expansive stock / investment payment plans :p

Sawtoothdude
Sep 23, 2006, 09:33 AM
woah i had no idea that he owned pixar... dang.

Wes Jordan
Sep 23, 2006, 09:44 AM
woah i had no idea that he owned pixar... dang.

He did, and now he is the largest shareholder of Disney.

solvs
Sep 24, 2006, 04:01 AM
He did, and now he is the largest shareholder of Disney.
Largest single owner. He doesn't own a majority stock though. Just to clarify.

steve_hill4
Sep 25, 2006, 01:49 PM
Why should he give to charity? WHY? His own money, to scum? He pays taxes, I'm sure!
To help those less fortunate perhaps? It gives most people a sense of well-being.
I thought Jobs was only paid $1/year.
Exactly, and a lot of that is to avoid paying tax, (something I don't agree with personally). He gets lots of "gifts" from Apple instead, mainly stock options.

WildCowboy
Sep 25, 2006, 02:04 PM
Exactly, and a lot of that is to avoid paying tax, (something I don't agree with personally). He gets lots of "gifts" from Apple instead, mainly stock options.

He only has 120,000 shares of vested options. The vast majority of his Apple stock (about 5.5 million shares) was in the form of a stock grant that vested this past spring. This is most definitely taxable...he was actually awarded 10 million shares back in 2003, but essentially had Apple withhold 4.5 million of them to pay the taxes on the grant when it vested.

ripfrankwhite
Sep 25, 2006, 02:11 PM
Steve Jobs just seems so cool, and to be so wealthy. Good for him. Definately my favorite rich guy.

TimDaddy
Sep 25, 2006, 02:13 PM
To help those less fortunate perhaps? It gives most people a sense of well-being.

Exactly, and a lot of that is to avoid paying tax, (something I don't agree with personally). He gets lots of "gifts" from Apple instead, mainly stock options.
Doesn't he still have to pay taxes on gifts? We get a lot of gifts at my job (nothing on the level of what Steve gets) and we are taxed on them. If I get anything from a watch to a new car, it appears on my paystub under "gifts and awards". And, when the company pays the income tax for us, we are taxed again on the income tax that the company paid.

I dunno about him, but I do.
Just to clarify, you want to be rich, evil, elite, or some combination of those?

steve_hill4
Sep 25, 2006, 02:17 PM
Doesn't he still have to pay taxes on gifts? We get a lot of gifts at my job (nothing on the level of what Steve gets) and we are taxed on them. If I get anything from a watch to a new car, it appears on my paystub under "gifts and awards". And, when the company pays the income tax for us, we are taxed again on the income tax that the company paid.
From Wikipedia:
This effectively reduces his tax liability, because under current U.S. tax law, salary income is taxed at a top rate of 35%, whereas capital gains tax, which applies to stock grants, maxes out at 15% for profits derived from long-term capital gains. Obtaining remuneration through stock instead of income is a common tax minimization strategy for many upper-echelon U.S. executives.
http://en.wikipedia.org/wiki/Steve_Jobs
Perhaps I should have said "minimises paying tax".

WildCowboy
Sep 25, 2006, 02:33 PM
From Wikipedia:

http://en.wikipedia.org/wiki/Steve_Jobs
Perhaps I should have said "minimises paying tax".

The Wikipedia article is incorrect...or it's actually incomplete as it doesn't address his 10 million grant. Restricted stock grants such as Steve's 10 million shares are taxed as ordinary income on the day they vest, which is why he had to have Apple withhold 45% of it for taxes.

Stock options are taxed at the lower capital gains rate, but outright stock grants are treated income.