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Aug 11, 2008

Israel's very own Steve Jobs

Steve Jobs always famously took a $1 annual salary at his job at Apple Computers. Of course he made his millions off the stocks and options, so the salary was always less important, but it was an important symbolic move.

Now Gil Shwed, the CEO of Checkpoint, has announced he is only taking a minimum wage salary, to show he is working out of love and not for the money. Of course, he too is making his big money from the stocks and options, so the salary is not that important.

Then again, Jobs took a $1 annual salary, while Shwed is taking minimum wage - in Israel the minimum wage is, give or take, $1000 per month. Let's see Shwed drop his salary to $1!!! Just joking, it is really very magnanimous of him and symbolically impressive.

I wonder how Jobs got around the minimum wage laws...

3 comments:

  1. From Wikipedia on Michael Bloomberg:

    As mayor of New York, Bloomberg declines to receive a city salary, accepting remuneration of $1.00 annually for his services. He maintains a public listing in the New York City phone directory, residing not in Gracie Mansion, the official mayor's mansion, but instead at his own home on the Upper East Side of Manhattan, at 17 East 79th Street between Madison and Fifth Avenues. (Bloomberg owns additional homes in Britain and in the British territory of Bermuda).

    Now lets see jobs or Shwed top that! There are no stock options in the New York City Mayor position.

    ReplyDelete
  2. I knew about Bloomberg (but not about his house). Thanks for reminding me. Steve Jobs did it much more prominently so his came to mind first...

    ReplyDelete
  3. i believe a couple of time he also rode his bike to work, and took subway trains.

    ReplyDelete

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