From the Associate Press’s “Ask AP“





The AP recently reported that Steve Jobs took a $1 salary in 2009. In the same story, it is also indicated that he hasn’t cashed in any of his Apple stock since 1997. The question remains: How does the guy maintain a lavish lifestyle? Where does his money come from?

Justin Kase Conder

Fresno, Calif.

Apple Inc. won’t let us peek into Steve Jobs’ personal bank account, so we’re going to have to rely on some facts and some educated guesses to answer this one.

Apple went public in 1980. From then to when Jobs was forced to resign in 1985, he was likely paid a salary and may have sold some stock. The Associated Press reported that in the summer of 1985, Jobs sold about $14 million worth of Apple shares.

So one guess is that Jobs hired a savvy money manager to invest at least some of those earnings. Between 1985 and today, the S&P 500 has more than quintupled. The Nasdaq has increased nearly sevenfold.

Jobs returned to Apple in 1997, and has been paid $1 a year since 1998. He currently owns about $1.2 billion worth of Apple stock.

Jobs also holds $4.4 billion worth of Walt Disney Co. stock, which he received when he sold Pixar Animation Studios to Disney in 2006. Disney pays investors an annual dividend of 35 cents per share. For Jobs, who has about 138 million shares, that comes out to about $48 million a year.

Jessica Mintz

AP Technology Writer

Seattle

See Also: The Life And Awesomeness Of Steve Jobs

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