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Posted Mar 24, 2006 10:36 by Maricar V. Listed in: News, Apple Corporate, Steve Jobs
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Apple CEO Steve Jobs has sold 4,573,553 shares of the 10 million shares given to him by the company as a gift in 2003, to pay for the taxes applicable to those shares. In business, executives are known to agree to a "net share settlement" to pay huge tax amounts using a portion of the shares they own. That leaves Jobs with 5,426,451 shares, or if translated into dollars - a jaw-dropping $325.4 million. This is in addition to the 120,000 fully vested options he received under the director stock option plan.

Now you know that even if Apple pays Jobs $1 as CEO, he is still one of the world's richest people.
[Via Apple Insider] Permalink  |   Email this  |   Linking Blogs   |   Digg It!

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