Apple is worth trillions of dollars – it is the world’s most significant tech firm in terms of income and, considering that January, the most worthwhile firm general as effectively. So, it is really apparent that the CEO of a firm whose brand is a household name would rake in the major bucks.
As per Bloomberg’s Annual Pay Index, CEO Tim Cook raked in a cool $265 million compensation package in 2020, nearly double from 2019 when he pocketed $133.7 million. Bloomberg broke down Cook’s compensation into 4 segments: $3 million in salary, $10.7 million in bonuses, about $1 million in perks, and a whopping $250.3 million in stock awards.
However, in spite of the huge payoff, Cook is nevertheless only the eighth highest-paid CEO in the US. In 2019, Tesla CEO Elon Musk was compensated a handsome $595.3 million, substantially greater than Cook, who came in second location.
In 2020, Oak Street Health COO, Palantir Technologies CEO, Opendoor Technologies CEO, and GoodRX Holdings’ co-CEOs all surpassed Cook’s compensation. Musk was once more at the major of the list with a compensation worth a staggering $6.658 billion, according to AppleInsider.
A Wall Street Journal report earlier this year pegged Cook’s annual compensation, devoid of the stock solution category, at $14.7 million. According to the report, Cook earned only slightly greater than the typical salary of CEOs of major businesses across the world. The typical salary of CEOs across the S&P 500 index was $13.4 million, The Wall Street Journal reported, adding that Cook’s salary grew 28 per cent in 2020.
Under Cook, Apple has risen to develop into the world’s most lucrative firm with revenues of $274.515 billion and profit of $57.411 billion, as per Fortune Global 500 rankings.
The company’s Senior Vice President of Retail and People, Deirdre O’Brien, and Senior Vice President and General Counsel, Kate Adams, had been placed at 93rd and 96th on Bloomberg’s Annual Pay Index, with each and every earning $45 million.