This comment coming from such a nice member of society just as your name says you are...
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Steve Jobs Ranked as 42nd Richest American With Net Worth of $6.1 Billion
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This comment coming from such a nice member of society just as your name says you are...
Steve is underpaid
If you look at how much Apple's market capitalization has increased during his tenure, then compare that with other companies, Steve is a bargain. If you could go back in time to his interim-CEO days and buy Apple stock at $6.50 per share, knowing the stock would reach it's current stock price with Steve at the helm, would you compensate him what Apple has compensated him? I think you would.
If you look at how much Apple's market capitalization has increased during his tenure, then compare that with other companies, Steve is a bargain. If you could go back in time to his interim-CEO days and buy Apple stock at $6.50 per share, knowing the stock would reach it's current stock price with Steve at the helm, would you compensate him what Apple has compensated him? I think you would.
It is clear that most of his wealth is NOT from AAPL shares.
Little comparison:
Jobs:
2001 = 1.5 bn
2010 = 6 bn
...400% increase in net worth, which factors in his cumulative earnings in this last 10 years.
AAPL:
2001 = $8.18
2010 = $288 (actually $576, factoring the 2:1 split in 2005)
...~3700% increase in worth!! Even if there was ZERO additional earning in the last 10 years!!
Had he invested $1 bn in AAPL on Jan 2001, he would have $37 bn now, making him #3, next to Buffett.
I do have a hunch, however ironically it may sound, Michael Dell and Bill gates own more shares of AAPL (through their investment firms and fund managers) than Steve.
This only increases my respect and admiration for our Ninja warrior CEO nonpareil.
Little comparison:
Jobs:
2001 = 1.5 bn
2010 = 6 bn
...400% increase in net worth, which factors in his cumulative earnings in this last 10 years.
AAPL:
2001 = $8.18
2010 = $288 (actually $576, factoring the 2:1 split in 2005)
...~3700% increase in worth!! Even if there was ZERO additional earning in the last 10 years!!
Had he invested $1 bn in AAPL on Jan 2001, he would have $37 bn now, making him #3, next to Buffett.
I do have a hunch, however ironically it may sound, Michael Dell and Bill gates own more shares of AAPL (through their investment firms and fund managers) than Steve.
This only increases my respect and admiration for our Ninja warrior CEO nonpareil.
Yeah, I'd like to hear what charities Jobs supports... Probably the charity of his own wallet.
I admire what the Gates are doing, but let's be clear-- for years Bill gave essentially nothing away and just accumulated wealth. His line was always that he was going to leave everything to charity when he died.
Then there came a point where Gates essentially got tired of running MS. He had delegated everything to Ballmer. So he has moved on to the next phase of his life, in which he is now trying to "save the world". Which is great. He is essentially retired from MS, and this is what he is doing.
In contrast, we all know that Jobs is actually running Apple. Probably even moreso than Gates ran MS other than in the early days. So I don't think he really has time to save the world. He's a bit more focused on changing the faces of consumer computing, communication, and media.
In truth, few mega-billionaire ever think much about giving some dollars to charity. More likely they are obsessed with bigger things such as their "legacies", their impact on the world, or pure power. Money itself rarely means much to these guys other than as enabler of greater things, or as a way to keep score of their success. In Job's case, I really do think he cares far more about bringing "insanely great" things to the world than about piling up huge gobs of cash.
It's interesting, though, that the people most against taxing the rich are typically the same people who are the first to send in the bombers. If the rich actually had to pay for the bombers themselves, there would be a lot less bombing.
interesting read
It's a few years old, but still relevant.
http://www.wired.com/gadgets/mac/commentary/cultofmac/2006/01/70072
It's a few years old, but still relevant.
http://www.wired.com/gadgets/mac/commentary/cultofmac/2006/01/70072
That is such an ignorant post. Are you worth what your company pays you? If so, why?
Just like any product is worth what someone is willing to pay for it, a CEO is worth what any company is willing to pay. Its not for the government, media or you to decide what someone is worth. If a company makes a bad hire and is subsequently run into the ground, so be it.
I have to agree with you about MR. It's very very very odd. People come here to spew hatred towards Jobs and Apple and anyone one person dare to criticize Microsoft or Windows 7 will get stomped on by the PC-loving fanboys. So weird to have so many PC-loving fanboys on a Mac forum. Sadly MR isn't really about discussing news and products you like about Apple, it's about hating on anything Apple. Does this happen on Windows fan sites? I'm beginning to doubt it.
That being said, it's nobody's business if Jobs donates $300 or $300 million, or even nothing. To my knowledge it's not required by law for anyone (no matter what financial position they are in) to report their donations for public filings so nobody here knows if Jobs has given away anonymously. These haters here need to get off their high horse, I'll bet many of you haven't donated anything, especially since the average age here is 12-18.
Sure it has. He has created thousands of jobs for people in this country and around the world. His products have increased the profitability other companies around the world. The taxes his companies pay are of benefit to the whole country -- however mostly wasted.
In those threads (and many more), I correctly claim about owning shares of AAPL (as well as other securities).
However, I own zero options. Clearly, you have a severe deficiency in your understanding of the stock market.
I was right. You are wrong.
I will let one of the other MacRumors readers school you on the difference, you can learn about it yourself, or you can continue to make the same embarrassing error by not comprehending the fundamental difference between actual shares and stock options. (Hint: it's not semantics.)
Ahahahahahahaha!!!!!
Cat fight?!?
So much for justifications of "soak the rich" and "make the rich pay their share". Most rich give away huge amounts to help poor & society - they just don't advertise it, and so don't get credit where due.
His kids will be getting only $1M each - enough for a good start (!) to earning their own fortunes.
I think most of us know what Steve has accomplished and contributed - no need to reiterate it all here.
What have you accomplished and contributed?
I think we all know who the real ass is.
You obviously do not understand the organ transplant system here. Jobs did absolutely nothing illegal, and anyone else could have done the same thing.
Irrelevant, he has another 5 years in him at best, and then what will he do with his cash? Build a pharoahs tomb for the afterlife?
Give me health, vitality and youthfulness over six billion but being a bag of bones anyday.
This is complete nonsense. The fact is, if SJ molested children, you a few other posters on MR would defend him because you like Apple products.
I like Apple products, too. But this doesn't blind me to the fact that a multi-billionaire who gives less to charity than I do is a selfish b*stard.
Of course Steve has the *right* not to give to charity. So do I, so does everyone. But that doesn't mean that not giving to charity is somehow good.
But you seem to see Apple as a religion, where you have to defend against any criticism of Apple or Steve - no matter how justified - as an attack on your religion.
While I do applaud the fact that they won't inherit the biggest part of the wealth, I severely doubt that the often colported number of $1m holds any truth. Not that I would hold that against them!
I'm sure they'll also receive a nice, expensive education and other amenities, that regular people wouldn't be able to afford. Maybe that's just the cash and they'll also get a bunch of nice houses to live in, may they'll get a nicely paid position at the helm of the Foundation. There are many ways.
What I'm saying is, they will still have an infinitely better start and infinitely more opportunities than 99% of the US population. Not to mention a good household name. Which is good for them, but, given that 20-30% will struggle even for the slimmest chances in life, sad for the society as a whole.