Jobs still makes a dollar a year, but tough times reduce the value of his holdings in Apple
Posted by Dennis Sellers 
Jan 8, 2009 at 8:25am
As he has done since returning to the company a decade ago, Apple CEO Steve Jobs took home his customary US$1 annual salary in 2008, but the economic crisis and Apple’s dipping stock price has knocked half a billion dollars off the value of his holdings in the company, reports San Francisco Chronicle.
Apple said in a regulatory filing Wednesday that Jobs, 53, who holds 5.5 million shares of Apple stock, hasn’t sold any of the shares since rejoining the company in 1997. However, Apple shares have lost more than half their value since the end of 2007, when they were trading at nearly $200 and Jobs’ holdings were worth more than $1 billion, notes the Chronicle. The stock finished Wednesday up $2.01, or 2 percent, at $91.01, meaning Jobs’ stake is worth $500 million.
Most of Jobs’ wealth, estimated at $5.7 billion, comes from the 138 million shares he owns of the Walt Disney., a 7.3 percent stake that makes him Disney’s largest individual shareholder. Jobs got the stock when he sold his Pixar Animation Studios to Disney in 2006.
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 10,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
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