How Steve Jobs survives on a $1 a year (Hint: it helps to be making $48 million in dividends)
One of the more heart warming stories that the Mac faithful, and business mags needing to fill out some space, like to trot out every once in awhile is how Steve Jobs only makes $1.00 per year running Apple. As well he hasn’t sold a single share of Apple stock that he owns even though his holdings are valued at around $1.1 billion.
So how does the man live?
Well it helps if you own 138 million shares of Disney stock that you got when selling Pixar to the entertainment giant. This makes him the single largest stockholder in the company at this point for which he receives a yearly dividend of over $48 million.
Disney has paid out dividends of $.35 per share each of the past 3 years. Owning 138 million shares results in over $48 million received each year in dividend income. Even Steve Jobs can survive on $48 million in stock dividends each year.
Source: Seeking Alpha
No wonder Jobs figures he can park where ever he likes – handicap zone or not – as well as figuring that having a license plate is for everyone else to worry about.