Jobs to Reap Stock Rewards
Already a billionaire from owning stock in Pixar, Steve is set to receive another set of stocks from Apple.
“Jobs exchanged worthless options on a split-adjusted 55 million shares for 10 million shares of restricted stock three years ago. The shares, Jobs’s entire stake in Apple, vest in March. Right now, they are valued at $808.6 million,” Bloomberg News reports. ‘It’s a bargain,’ said Chuck Jones, a fund manager at Atlantic Trust Stein Roe in San Francisco. ‘I’d gladly pay him another $808.6 million to have him create another $65 billion in market cap.”