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How Steve Jobs Blew $10.3 Billion On "The Dumbest Trade Ever" $AAPL

nova5

Senior Member
Jan 26, 2009
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“Apple CEO Steve Jobs owns about $2.5 billion worth of Apple stock. But he would own about $13 billion worth of Apple stock if it weren't for a huge mistake he made back in 2003, MarketWatch's Brett Arends reports.

In 2003, Apple (AAPL) stock had declined from a peak $36 per share during the tech boom to about $7.

This put options granted to employees near the peak deeply underwater.

So, to keep these employees motivated, Apple's board gave Steve Jobs and every other Apple employee the opportunity to exchange the underwater options for new, fewer options at a much lower strike price.

Steve took the leap and canceled all his options for a much smaller number of them at a lower price.

With Apple stock now trading above $250 – well above the strike price of all those options Steve gave up – Steve, with one pen stroke, lost himself about $10.3 billion in future gains.”



http://bit.ly/cPzuLU
 
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danmand

Well-known member
Nov 28, 2003
46,353
4,776
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There may be more to the story than this. Jobs also eliminated a lot of options. Maybe the stock would
not be at $250, if all these options had been excercised.9
 

5hummer

Active member
Sep 6, 2008
3,788
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I believe Steve Jobs is doing OK financially.

Then again, as CEO of Apple, he legally makes only $1 US.
 

rafterman

A sadder and a wiser man
Feb 15, 2004
3,423
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I thought he made five or seven billion bucks on selling out his stock in Pixar to Disney a year or two ago?
 
May 22, 2008
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like he really gives a $hit...

i doubt money is really on his mind. if anything..he may feel bad that all that money he could have made he could have donated.
 

Berlin

New member
Jan 31, 2003
11,411
1
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Agree.

Bet he got other more important things to worry about.


An interesting piece of info for me nonetheless.

“Apple CEO Steve Jobs owns about $2.5 billion worth of Apple stock. But he would own about $13 billion worth of Apple stock if it weren't for a huge mistake he made back in 2003, MarketWatch's Brett Arends reports."
 

djk

Active member
Apr 8, 2002
5,953
0
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the hobby needs more capitalism
Jobs, has influential power and likes it that way, money is secondary to him. That's how i see his character being potrayed. The way he dresses, never really going to black tie affairs, everything for him has to be simple...from the ipod to the iphone...simple yet glamourous (not sure if that's the right adjective) and somehow complicated...that's Steve jobs.
For those interested in Steve Jobs.

http://www.allaboutstevejobs.com/
 
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