Disney dividends of $48 million keep Steve’s sweater drawer full
Even though Apple’s CEO has taken only a $1 salary for years and hasn’t sold any of his shares in the company he co-founded more than 40 years ago, he probably doesn’t have any money worries, especially given the tens of millions he gets from his stake in the entertainment and theme park giant.
More than a few of us have wondered how Steve Jobs manages to keep himself kitted out in those snappy mock turtleneck sweaters on his Apple salary of just one buck per annum. Well, for anyone concerned that he lacks for clothes or tasty vegan eats, Seeking Alpha reports we can all rest assured he’s got plenty of money for both.
Steve Jobs is always the “new black.”
Jobs owns approximately 138 million shares of Walt Disney stock that he received from the Pixar Animation Studios sale back in 2006. In fact, he is currently the largest, single holder of Disney stock… which has paid out dividends of 35-cents per share each of the past 3 years. Owning 138 million shares results in over $48 million received each year in dividend income.
Jobs’ stakes in Apple ($1.1 billion) and Disney ($4.5 billion) — he hasn’t sold any shares in either since acquiring them — could easily keep he and his in black turtlenecks in perpetuity, assuming money even has meaning that far out. However, for folks like Apple’s CEO, I expect that money is viewed as evidence of successes past but not the measure of success itself let alone self worth…
What’s your take?
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April 26th, 2010
I agree, for Jobs money is a symbol of what he has done.