Apple Steve Jobs Highest Paid CEO

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May 05 2007
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Despite a $1 yearly salary, Apple Inc.’s (Nasdaq: AAPL, stock) chief executive Steve Jobs still managed to top Forbes’ list of highest paid CEOs for 2006, raking in more than $646 million through stock-based compensation – more than twice that of the next highest paid boss, reported AppleInsider.

The financial publication reported that chief executives of America’s 500 biggest companies got a collective 38 percent pay raise last year, to $7.5 billion; an average $15.2 million apiece.

While some components of executive compensation have changed over the years, Forbes noted that exercised stock options are still the main component of pay. Based on the 200 bosses tracked by the publication, stocks accounted for 48 percent of executive pay, or an average gain of $7.3 million per CEO.

Jobs’ $646.6 million came in the form of restricted stock options that vested during the year, bringing his 5-year compensation total for work done at Apple to $650.17 million. Following Jobs as the second highest paid chief executive was Occidental Petroleum Corp.’s (NYSE: OXY, stock) boss Ray Irani, who earned $321.64 million. He was followed by IAC/InterActiveCorp (Nasdaq: IACI, stock) chief executive Barry Diller ($295 million), Fidelity National Financial Inc. (NYSE: FNF, stock) CEO William P Foley II ($179 million), and Yahoo Inc. (Nasdaq: YHOO, stock) chief Terry Semel ($174 million).

Michael Dell, founder of Apple rival Dell Inc (Nasdaq: DELL, stock), came in as the 6th highest compensated chief executive with a paycheck of $153 million.

I wonder if there’re differences in terms of CEO’s roles in United States compare to Malaysia. From what I know (although not all of them) most of the CEOs of listed companies in Malaysia are generally busy watching stock price of their company when they should plan and drive the company to a brighter future. Could that be the reason why it’s really hard to find quality stock counters to invest nowadays? Now that more and more quality companies are taken private (the most recent being MAXIS Privatization – What They Said & You Should Say), could there be a scenario that Malaysia Stock Market will be filled with junky companies?

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