Apple CEO Tim Cook Could Earn Nearly $50 Million in Compensation This Year

[MacRumors]

Apple CEO Tim Cook could receive close to $50 million in compensation if Apple meets all of its financial goals, shareholders decided today in an annual meeting that was highlighted by Bloomberg.

Cook is set to receive a $3 million base salary, a $6 million cash bonus, and stock awards that are worth approximately $40 million. Cook's salary is down around 50 percent, as he received $99 million in 2022. His pay will be tied closely to overall company performance, with the shift introduced after shareholders became upset about his pay package.

Shareholders approved a proposal that will see executive salary decided with an annual vote, and other Apple executives will earn around $27 million each in 2023. This includes chief operating officer Jeff Williams, general counsel Katherine Adams, retail head Deirdre O'Brien, services chief Eddy Cue, software head Craig Federighi, chief financial officer Luca Maestri, and others.

Several measures that Apple asked investors to reject did not receive enough votes to pass. Shareholders had proposed a civil rights audit on Apple's diversity efforts, called for Apple to report on its reliance on China on an annual basis, and asked Apple to report on pay gaps at the company.

All Apple board members were reelected, despite proposals calling for the removal of Al Gore and Tim Cook.

Article Link: Apple CEO Tim Cook Could Earn Nearly $50 Million in Compensation This Year

 

[xpxp2002]

Joke's on them. I'd be CEO for half that pay. 😏

 

[Armada2]

No wonder he is always walking around smiling. My heart bleeds for him with a 40% down salary

 

[cocky jeremy]

After a few years of that, you can't be in it for the money anymore.

 

[TSE]

Well earned.

 

[TheYayAreaLiving 🎗️]

Apple CEO Tim Cook could receive close to $50 million in compensation if Apple meets all of its financial goals, shareholders decided today in an annual meeting that was highlighted by Bloomberg.

Apple is going to have to release more than a Yellow iPhone to do that this year. We need cutting-edge innovation from Apple.

 

[CE3]

Random comment: I know it’s cash inside the logo, but whenever I see this image accompanying an article it always looks like cigarette butts to me upon first glance 🤪

 

[FrozenDarkness]

who in the world proposed to remove tim cook from the board?

 

[GMShadow]

who in the world proposed to remove tim cook from the board?

There's always a few cranks.

 

[MrRom92]

I’d do it for $1M

 

[appleguy123]

Executive pay is ridiculous but $50 million seems a small price to pay to run a $2.5T company.

 

[George Dawes]

Imagine if Steve’s chosen Scott forestall had inherited his mantle

 

[klasma]

After a few years of that, you can't be in it for the money anymore.

You’d be surprised. Even among billionaires, the envy never stops.

 

[fel10]

OVERPAID!!!

 

[klasma]

Random comment: I know it’s cash inside the logo, but whenever I see this image accompanying an article it always looks like cigarette butts to me upon first glance 🤪

I saw cigarette butts and didn’t even wonder why they’re there. 😅

 

[madmin]

Chill, it's not money that gives you peace and happiness

 

[Apple Knowledge Navigator]

“Mankind’s greatest question is… What colours are our iPhone cases this season?”

 

[lovehateapple]

I hope they all max out their earning potential, with the caveat that no more stock buy backs are used to artificially pump up the share price.

 

[xpxp2002]

Executive pay is ridiculous but $50 million seems a small price to pay to run a $2.5T company.

The same argument could be made for any contributor who helps keep a $2.5T running.

I single-handedly support systems at a multi-billion dollar company that would experience significant customer loss and value if those systems failed. Yet, unsurprisingly, I don't make anywhere near what the CEO does.

Maybe it is time to bring executive pay in line with those who deliver and sustain just as much value, just without the C-level title.

 

[surfzen21]

Executive pay is ridiculous but $50 million seems a small price to pay to run a $2.5T company.

Agreed. I think he is worth it.

When the global economy and supply chain went FUBAR he was a good person to be in charge.

 

[klasma]

Chill, it's not money that gives you peace and happiness

It helps a lot though.

 

[Sayewhat]

Key to success- up prices of phones and computers by $100-200 every year and pay employees the lowest legally allowed by law.

 

[DelayedGratificationGene]

It helps a lot though.

Only until basic survival needs are all taken care of then you gravitate back to your genetically predefined happiness level.

 

[vegetassj4]

After the meeting, Tim Cook was spotted at his favorite hangout, making it rain:

 

[TheYayAreaLiving 🎗️]

Chill, it's not money that gives you peace and happiness

It helps a lot though.

Only until basic survival needs are all taken care of then you gravitate back to your genetically predefined happiness level.

Sadly, It doesn't help with charging the overall design of the Apple Magic Mouse 2 Charging Port. $50 Million Dollar Compensation salary and the struggle stays real.