Well, that’s not entirely true. You see, Schmidt decided not to take any financial compensation for his time served on Apple’s board of directors, but he did apparently accept all the free Apple gear, the company was willing to throw his way.
As of Apple’s fiscal 2008, directors have been allowed to receive one of each new product the company introduces, free, plus the right to buy more at a discount. In fiscal ’08, Schmidt received $8,712 worth of Apple equipment.
In fact, Schmidt actually spent over $740,000 on Apple stock during his tenure–though don’t feel sorry for him, it’s now worth more than $1.7 million!
I guess all we need to know now is whether Schmidt is rocking out on his iPhone or if he’s handed it to the Android engineers for some weekend reverse engineering!