Jobs dumps Apple stock

Vested? Sell!

In brief Apple Computer founder and CEO Steve Jobs sold 45 per cent of his Apple stock this week. Jobs sold 4.57m shares at a price of $64.66, netting him a cool $295m.

Jobs was granted the 10m shares in 2003, but they didn't vest until now.

Jobs retains 120,000 vested stocks that were granted in 1997. Last year, Jobs earned $1 salary from Apple.

Earlier this month Forbes magazine put Jobs' net wealth at $4.4bn, after the sale of Pixar, in which he was the majority shareholder, to Disney. That's someway behind the colored ball boys of Google, Brin and Page, who are worth around $12.8bn a piece, and Jobs' pal Larry Ellison who's worth $16bn.

The selloff comes just ahead of Apple's 30th anniversary to be celebrated on 1 April. You can check out Jobs' fire sale here.

(Thanks to Mr Bear for the tip). ®

Update Monday 6:30pm PT: The WSJ said this evening that Jobs gave up his stake "to satisfy tax obligations", according to a report by Nick Wingfield. Several readers had berated El Reg for not publishing a rumor to this effect last week. Why not? Because we prefer facts to unsubstantiated (but fun) rumors. ®