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http://www.insanely-great.com/news.php?id=1674
Apple Pays Jobs $1.25 Million for Use of Jet
By Remy Davison, Insanely Great Mac
February 11th 2003
Company says hiring plane saves money.
Apple CEO Steve Jobs has been paid $1.25 million for use of the $90 million Gulfstream
jet the company bought for him, Mercury News reports.
SEC filings reveal that Apple paid Jobs $84,000 in the most recent quarter for
corporate use of the jet. This follows a $1.16 million payment for previous use of the
airplane by Apple. The company did not comment on the issue, although the story notes
that Apple has said previously that hiring the jet from Jobs is a money-saving
exercise.
Apple paid for the Gulfstream and also paid the tax on the fringe benefit purchase.
Jobs notionally earns only $1 per annum, which enables him and his family to qualify
for the corporate health plan.
Analysis: We happen to think Jobs is entitled to every cent he gets, given his rescue
job of Apple over more than 5 years. And the guy only said he'd stay for 5, initially.
He does have a vast pile of worthless stock options, but running a company that
matters seems more important to Jobs than mere greenbacks.
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