Will Steve Jobs depart empty-handed? | footnoted.com
…we also decided to look back and see what Jobs is likely to take with him when he steps down, in the way of retirement benefits, severance and the like. The answer: not much.
That’s small surprise to anyone who’s paid attention to his pay in recent years. Jobs has famously been paid just $1 a year in salary since 2003 — and nothing else, whether equity, perks or pension. The nominal $1 salary is more common these days, but mostly among execs facing a tough economy or presiding over big layoffs, to show solidarity with the troops (or just generate some good press). But Jobs has done it even in the absolute best of times: Apple shares have risen more than 3,000% since early 2004, more than 130 times the Nasdaq’s return in the same period.
Jobs does own something like 5.5 million shares of Apple stock — less than 1% of outstanding shares, but still a whopping $2.09 billion at yesterday’s close. That means that the stock’s 5% drop in after-hours trading cost Jobs about $106 million (though AAPL is down less than 2% this morning).
