Apple Paying Dividends to Employees with Restricted Stock Units, CEO Tim Cook Declines to Participate

[overcast]

Steve Jobs worked for $1 a year for (at least) most of his tenure with perks like a Gulfstream V. I'm sure that someone here knows the details without a specific search, but to me it gives context to how much Apple meant to him and his legacy.

BTW, almost all of Steve's wealth is from the sale of Pixar to Disney for stock, at the time some $7 Billion, and he and his family lived a relatively modest lifestyle for a billionaire.

I'm always surprised when people make quite despicable comments based on his first tenure at Apple, not accounting for his maturation at Next and Pixar, and certainly not at his second tenure at Apple.

http://www.redmondpie.com/steve-jobs-annual-salary-at-apple-1997-2011-was-less-than-yours/

Let's not sugar coat this. The $1 salary, while being paid in stocks and other perks is a classic move by wealthy executives who want to avoid paying income taxes. Capital gains tax is much less than income tax.

 

[faroZ06]

Please. Some companies using South American workers. Some use Indians. Others are starting to turn to Africa. Not all companies make their money on Chinese workers.

Actually, I'm pretty sure every company employees at least one Chinese worker at least indirectly.

 

[TallManNY]

After Steve was booted from Apple, he only held on to a single share. AFAIK, Apple after Steve's return and up until recently, Apple never returned any money as dividends to shareholders.

He paid a substantial portion of his vested stock (10M shares after the split) in taxes, leaving him 5.4M shares that neither he nor his family have ever sold. Between his investments, Laurene's pay, Disney stock from the Pixar sale, and their modest lifestyle, I suspect that it wasn't that hard to live without touching the Apple stock, which is worth some $3B today.

If you can show me that he received dividends from Apple stock, I be happy to view whatever you post.

Well the sale of Disney stock would only generate capital gains, so the main point that Steve (like many CEOs) is able to get their hands on a lot of money that is taxed at the lower capital gains rate, is basically right, I think.