Shocking Severance Payouts
$50 million for 1 year, 4 months
11. Gil Amelio, Apple
Tenure: 1 year, 4 months
Compensation: $50 million from severance
Gil Amelio became Apple’s CEO on February 2, 1996, after serving two years on its board of directors. At the time, Apple was neither the trendsetter it started as, nor the major power it is now, as the public had little faith in the company. Once Amelio assumed control, Apple reached its lowest point in twelve years. The funny thing is that the decline had little to do with Amelio, but rather was the result of a single anonymous party selling $1.5 million shares all at once. That single party was later revealed to be Steve Jobs. Amelio had the last laugh, though, walking away with over $50 million in severance for his measly 16 months on the job.