STEVE JOBS CASHES IN HIS ANNUAL PAYCHECK

Onedollar

How much money do you think Apple’s co-founder and CEO earns?  A trillion dollars?  Nope, just one trillionth of that.  Yep, Apple reported Friday,  Steve’s 2010 compensation of just one dollar.

This is great news for Jobs because he has been saving up all year to buy Angry Birds for his iPhone.  Hardly.  Even though Steve’s annual compensation barely covers the cost of a Sprite, he is worth billions.

Steve owns 5.5 million shares of Apple stock.  Each share is currently worth $338.10.  Do the math, that’s $1,859,550,000.00.  That’s right, “El Jobso” can also afford the iPad version of Angry Birds.

Let’s not forget about Disney.  In 2006, Jobs sold Pixar to Disney.  He walked away from the deal with 7% (138 million shares) of Disney’s stock, which is currently worth $5,444,100,000.00.

How about his pocket money?  Well, Disney is currently paying forty cents per share yearly in dividends.  That’s over fifty million dollars a year for our “iLeader”.

Things get even better for Steve, the amount of money he makes would put most people in a pretty high tax bracket.  However, dividend income is only taxed at 15%, likely far less then you are being taxed.  Yep and his yearly income from from Apple?  Just 1$.

Sources: Reuters, Yahoo! Finance, Crenk

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4 Responses to STEVE JOBS CASHES IN HIS ANNUAL PAYCHECK

  1. Jane says:

    Haha, I’d like to see his W2. this might be a dumb question but does he pay social security on his investment earnings?

    • admin says:

      Typically not.
      Straight from the horses mouth:
      http://www.ssa.gov/pubs/10022.html

      Net earnings for Social Security are your gross earnings from your trade or business, minus your allowable business deductions and depreciation.

      Some income does not count for Social Security and should not be included in figuring your net earnings:

      Dividends from shares of stock and interest on bonds, unless you receive them as a dealer in stocks and securities;
      Interest from loans, unless your business is lending money;
      Rentals from real estate, unless you are a real estate dealer or regularly provide services mostly for the convenience of the occupant; or
      Income received from a limited partnership.

  2. Did anyone think that someone smart enough to turn Apple into one of the most valuable companies in the world wouldn’t be smarty enough to hire good tax advisers?

    Even at 15%, his taxes on the dividend income would put most of us in a very comfortable position. I seriously doubt that he will ever need social security and wouldn’t think he would even try to claim it. Sure, he probably has already paid in more than most will in their entire lives. Even so, the benefits would be pocket change to people like Jobs and Gates.

  3. [...] according to techniglee and tech.fortune , it was stated that out of the 9.6million shares Apple owns, Steve Jobs owns [...]

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