Apple's top exec certainly doesn't live like America's "highest paid CEO"
Behind all these headlines -- and especially the last -- are two mistaken assumptions:
In this regard, a paragraph from my colleague Adam Lashinsky's forthcoming book Inside Apple (release date: Jan. 25) is instructive:
In an organization that frowned on talking about money, Cook was extraordinarily frugal. Well after he had sold more than $100 million in Apple stock, he rented a modest home in Palo Alto, a little over a mile from where Jobs lived. (In 2010, Cook finally bought a house of his own, not far from his previous rental, but hardly an extravagant one. Public records indicate he purchased the house for $1.9 million, which in Palo Alto qualifies as a modest abode.) Asked why he lived so humbly, he once said: "I like to be reminded of where I came from, and putting myself in modest surroundings helps me do that. Money is not a motivator for me."
Above: A Google Maps image of Cook's Palo Alto home and an aerial photograph of one of many houses owned by Larry Ellison, the billionaire CEO of Oracle (ORCL) who is No. 3 on Equilar's list of America's highest paid CEOs and, from all appearances, a man who cares a good deal about money.
The hunger for new IPOs may be cooling, but the valuations of tech startups had been overheated. That could mean the better candidates will slide through, but maybe at a lower price than they had been expecting.
FORTUNE -- Walk around business districts in San Francisco or Palo Alto long enough and you may forget the rest of the country is fretting over a double-dip recession. Many parts of the tech MOREKevin Kelleher - Sep 6, 2011 11:43 AM ET
A glimpse into his private life from a writer who lives down the street
Here's portrait of Apple's (AAPL) famous CEO that I suspect is unlike any you've read over the past week.
It was posted Monday by his Palo Alto neighbor, Lisen Stromberg, on AOL's Patch and on her personal blog.
While Newsweek and the Wall Street Journal and CNET continue to drone on about the impact of the Steve Jobs era, I won't be pondering the MacBook MOREPhilip Elmer-DeWitt - Sep 1, 2011 6:13 AM ET
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