Feeds

Apple ‘compensates’ Jobs with $40m aircraft, 10m shares

The secrets of Jobs' $1 salary revealed

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

So what did Steve Jobs gain for announcing to the world that he was no longer Apple's interim CEO, but the position's permanent incumbent? In a jaunty release, the company confessed it had offered up to its saviour a Gulfstream V light aircraft (retail price: approx. $40 million) and the right to buy ten million Apple shares. Jobs, you may recall, got rid of his entire Apple stock but for a single share not long after engineering the sacking of Gil Amelio and assuming the company's pilot seat. Indeed, he only kept the single share because of promises he'd made previously that he would always remain an Apple shareholder. Amelio himself was a keen aviator, and had previously come up with the wheeze of renting his own aircraft to Apple for the company's executive transport needs. And don't forget Apple board member and Oracle CEO Larry Ellison's own avian passion, which turned to anger when San Jose airport recently refused to allow him to take off -- for which he is now suing the city. Interestingly, Larry's choice of winged steed is also a Gulfstream V. Jobs salary will continue at $1, said Apple. But since $40 million of aircraft over the two and a half years Jobs has been Apple CEO translates to $16 million a year, if you figure that in salary terms he's not doing at all badly. And don't forget the paycheque he picks up every month from Pixar, which should keep the vegetarian CEO in mung beans and tofu for the foreseeable future. To be fair to the lad, Jobs has turned Apple round from a position that few pundits believed it could recover. But why maintain the 'comedy salary' routine? Like the 'interim', does Apple really think it's fooling anyone here? ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Right to be forgotten should apply to Google.com too: EU
And hey - no need to tell the website you've de-listed. That'll make it easier ...
prev story

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.