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Steve Jobs earns $1 salary for year's work

Steve Jobs has elected to pay himself just $1 a year to work as the CEO of Apple Inc

Steve Jobs earned a measly $1 (50p) salary in 2006, meaning he's not had a pay rise this year. That's according to Apple documents which were filed at the Securities and Exchange Commission in the US yesterday. Jobs returned to Apple as CEO in 1997, a company he co-founded in 1976.

But worry not, before you start feeling sorry for him know that Jobs' 50p salary is offset by the fact that the man is worth more than £2.9bn.

He also owns over 5.4 million shares in Apple , worth in the region of £250m, and was reimbursed over £100,000 for business-related expenses incurred throughout 2006.

Apple shares have skyrocketed in the past 12 months as its Mac computer enterprise slowly gains a larger share in the PC-dominated market. But it was the iPod which really sent Apple shares soaring, now reaching upwards of £45 each.

Jobs is the single biggest shareholder at Walt Disney, and is also the world's 132nd richest man.