Steve Jobs' Bad Bet

From Fortune

Did Steve Jobs backdate the options he got as Apple's CEO? Seems to me what he really did with his options was probably legal - and incredibly dumb for a guy who was making Apple one of the all-time great business turnarounds and America's seventh-most admired company. The great seer of tech trends had no idea what was coming - indeed, no idea how much his company, or he himself, was really worth.

Now, with benefit of hindsight, let's get out the calculator and see how smart Jobs looks. That bag of restricted stock he got in 2003 is today worth about $848 million. Not bad. But what about the options he gave up? His first mega-grant, the one that landed him on our cover, would today be in the money not by the $436 million for which he offered to sell it to us, or even by the $872 million we said it was worth, but by just over $2.5 billion.

The supremely self-confident aren't always what they seem.

(Shawn's Comment: And neither are their motives - unless you've been paying attention. Forbes misses a key component of Steve Jobs - as he has said publicly many times, he doesn't care about money. He's already a billionaire several times over and doesn't need more money. By *not* worry about options, grants and salry for himself, he is free to focus on what's best for *Apple* and not his own pocketbook)

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Steve Also gets paid $1.00 a

Steve Also gets paid $1.00 a year doesn't he? So If he really wanted to make a lot of money he could get a regular pay scale for a CEO. It seems like he is not that worried about it. Of course I could be very wrong on this account.

"Steve Also gets paid $1.00

"Steve Also gets paid $1.00 a year doesn't he? Of course I could be very wrong on this account."

You are not. He officially gets $1.00 as CEO of Apple for a salary.
--
Shawn King
Host/Executive Producer
Your Mac Life
http://www.yourmaclifeshow.com

Leading a high-end tech

Leading a high-end tech company and keeping their product prices high, proves that steve does care about money. Low-end PCs are just boxes to him. He does not care about its products compatibility with other players in industry, even though they are major(windows, adobe flash).

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