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Apple CEO Tim Cook Earned $102 Million in 2017, Must Now Fly Privately for Security Reasons
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Angela is in charge of running the Apple stores and revitalising them.
https://www.buzzfeed.com/nicolenguy...you-buy-your?utm_term=.jdDL16Q5l1#.suD820gmM2
And the executives are being rewarded for coordinating everything and making the whole business run like clockwork. Look at the big picture of what Apple has accomplished this year, rather than fixating on individual mistakes. You think running the company like a well-oiled machine happens by itself without people working tirelessly behind the scenes to make it happen?
When Tim started carrying around a pricey 256gb iPhone X, security became much more of a concern.
Most CEO's of large companies have their own private plane or corporate plane(s).
No big deal if Tim chooses to fly privately. I wonder if he calls his plane Air Force Apple?
But the fact that he earned 102 million in 2017!!!! I mean wow!! That's a huuuge salary.
Perhaps if he cut his salary in half and then heavily discounted iPhone X and future iPhones we would all be happy.
You know, if I ever meet Tim, I might just ask him to buy me an iPhone X.
He can afford it ... I can't.
It's worth a shot now that I know he earns around $100 million dollars.
No big deal if Tim chooses to fly privately. I wonder if he calls his plane Air Force Apple?
But the fact that he earned 102 million in 2017!!!! I mean wow!! That's a huuuge salary.
Perhaps if he cut his salary in half and then heavily discounted iPhone X and future iPhones we would all be happy.
You know, if I ever meet Tim, I might just ask him to buy me an iPhone X.
He can afford it ... I can't.
It's worth a shot now that I know he earns around $100 million dollars.
But good ol' liberal SJW Tim Cook doesn't mind open borders and endless third world immigration, making airports and other public areas much more unsafe for the rest of us "plebeians". Yep, it's a long way down from the gilded luxury bubble on the top, to the regular folks living in the real world.
Considering Apple's CEO can't stop pandering to every SJW that crosses his path I'm not so sure one is needed. Cook is nothing more than a fraud when it comes to Civil Rights. He'll talk tough when he's in front of an audience but when it comes to putting the rubber to the road in places like China or the Middle East (where the LGBT community is killed on a daily basis) he suddenly becomes silent.
You can't actually be serious with that?
The risk taken in putting out a multi touch smartphone in an era when such thing practically didnt exist in consumer terms and a tablet computer that nobody else had ever really had any success with was taken under Jobs. Cook has continued to iterate on their success but both the iPhone (where the vast majority of the revenue is coming from) and the iPad were both successful products when Jobs passed away.
The new products introduced under Cook have been a very mixed bag. The watch has done well in a category that nobody really cares about and was practically unusable when the first version shipped, the Mac has languished and the product line up is well on its way back to John Scully/Gil Amelio levels of convolution.
Do you really think Tim and Eddie Cue could've got that iTunes deal done? The mess they've made of trying to put together a TV streaming service suggests not eh?
The truth is Cook has kept the cash registers ringing largely off the back of the iPhone, an established product when he took over from Jobs, but he's done nothing to suggest that Apple will be the ones to come up with the next game changing product the way Jobs Apple did with the iPhone.
How is he getting on getting AirPods out of the door? Homepod? He might be getting the iPhone out of the door (with some help from Chinese child labour) but it has come at the expense of everything else.
What Apple has accomplished this year can be summed up as overpromised and under delivered.
And that is a big mistake. Ive is obsessed with design and not the usability of a product, probably why so much of Apples hardware/software caters to form rather than function these days.
LOL you don't need to be a Lib to think that.
No one earns that kind of money, No One!
So basically just ignore all of their failings..
All of that is completely valid criticism.
I think you mean Jobs earned a killing on stock options. Options have a strike price. If they don't reach that price they are worthless. If actual investor's don't see potential earnings growth they leave the stock and it's price falters. It's up to the CEO to make decisions that insure acceptable growth to keep the stock growing.... that is the only way those options every become worth anything.
It takes no balls for a CEO to take a ginormous salary up front + option bonuses. He or she essentially has less skin in the game as they get paid no matter what. OTOH it's pretty gutsy to say, pay me a $1 + options. Only if I can guide the company to acceptable growth will I share in the profits. Of course only Job took the $1 salary, not TC.
In Job's case Apple was a basket case when he took over. Literally days away from not being a company. It was saved only because of a MS bailout, Jobs' Next and his guidance getting Apple out of the cesspool it found itself in 1997.
This is a prime example of the board of directors choosing to award tens of millions of dollars in stock options to a dozen top executives instead of raising salaries to employees. That’s how capitalism works. There’s nothing new here. The lowering of the corporate tax would allow for the board to award even higher compensation to top executives.
However, the problem with the new tax code is that it doesn’t incentivize the corporation to distribute wealth more equally, and neither does it make top executives pay higher taxes on these unreal compensation levels. The new tax code benefits the rich more than it benefits the middle class. The savings that the corporations will realize from the lower corporate tax will not benefit the middle class. Apple has hundreds of billions of dollars sitting in cash reserves. Now Apple will be accumulating cash reserves even faster. The shareholders will see a small boost in dividends. Apple will not increase its speed of acquisition of other businesses. Apple will not significantly increase employee salaries.
Corporations are not benevolent entities. They have to be goaded to do the right thing via appropriate regulatory measures.
One thing I advocate for is passing a rule that says that the highest paid employee of any publicly traded corporation cannot make more than 100 times that of the lowest paid employee. For Tim Cook to make $100 million per year, the lowest paid Apple employee would have to make $1 million per year if such a rule were passed. That would mean that every employee salary would have to be indexed against the lowest paid employee salary. Even with the wealth that Apple accumulated, the board would not be able to pay Tim Cook $100 million per year if such a rule existed. He may have made $10 million or $15 million but not $100 million. And if he made $15 million, the lowest paid employee would have to make $150,000 per year. This rule would result in a much more fair compensation to employees, and would dramatically improve the salaries of the middle class across the board.
However, the problem with the new tax code is that it doesn’t incentivize the corporation to distribute wealth more equally, and neither does it make top executives pay higher taxes on these unreal compensation levels. The new tax code benefits the rich more than it benefits the middle class. The savings that the corporations will realize from the lower corporate tax will not benefit the middle class. Apple has hundreds of billions of dollars sitting in cash reserves. Now Apple will be accumulating cash reserves even faster. The shareholders will see a small boost in dividends. Apple will not increase its speed of acquisition of other businesses. Apple will not significantly increase employee salaries.
Corporations are not benevolent entities. They have to be goaded to do the right thing via appropriate regulatory measures.
One thing I advocate for is passing a rule that says that the highest paid employee of any publicly traded corporation cannot make more than 100 times that of the lowest paid employee. For Tim Cook to make $100 million per year, the lowest paid Apple employee would have to make $1 million per year if such a rule were passed. That would mean that every employee salary would have to be indexed against the lowest paid employee salary. Even with the wealth that Apple accumulated, the board would not be able to pay Tim Cook $100 million per year if such a rule existed. He may have made $10 million or $15 million but not $100 million. And if he made $15 million, the lowest paid employee would have to make $150,000 per year. This rule would result in a much more fair compensation to employees, and would dramatically improve the salaries of the middle class across the board.
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Milking which products? You can’t make a profit if you don’t sell product. Are you claiming people who buy Apple products aren’t very bright?
He's very unassuming. Have seen him in Starbux with his iPad. And walking around Palo Alto in the downtown. All solo, without an entourage of people around him. Quite different than a couple of other huge tech company CEOs in silicon valley.
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Now that's a real knee slapper!
Do you have a source for that? Cook didn't come from wealth. And even though he lives very modestly (renting a condo until a couple years ago), why would he not take a salary? And why do you find him taking a salary disgusting?
Not intirely. No corporation would do that. As a shareholder since 1996 my point is given his aura as the champion of humane rights, equality, the environment, and all things Magical the monies could be used for many other causes. But they won’t.
Because Tim talks the talk, but does not walk the walk. Most do not look deep enough.
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It's more about viewing them in their proper context. No company ever gets it perfectly right out of the gate, and I do feel it's no mean feat for Apple to do as much as it is today. They have updated 4 separate software lines, refreshed a ton of products in their lineup this year, in addition to launching a few new lines, plus maintaining their own ecosystem. I don't think there is any other company quite like them in this regard.
Heck, even Google has trouble making enough of a low-volume product like the Pixel phone, while Apple easily sold over 200 million iPhones in a year. I just think that people tend to take for granted the things Apple does well (or does so effortlessly despite the massive logistical coordinating which goes on behind the scenes) because it's not sexy and doesn't quite capture the imagination like travelling to space, but it's an important part of running any successful company nevertheless.
Issue blame if you must, but do so in the proper context of Apple's achievements and milestones for the year. Not nitpick at them in a vacuum.
That's why this is so hilarious. It's all virtue signaling. Dude's even a gay man and could give zero about it.
Yes since when are CEOs not supposed to take a salary. And most of those who don’t are worth tens of billions of dollars. Tim Cook said he will be paying for his nephews college and then giving the rest of his fortune away.
Joseph Stalin also lived very modestly.
I have very little respect for the liberal CEOs who are fine with their retail employees making peanuts while they are raking in hundreds of millions.
I’m not an Apple employee so this doesn’t affect me personally. Neither am I liberal in my political views. I disagree with Tim Cook on basically everything, but these compensation levels are especially obscene especially for a bean counter like Tim.
Let’s not forget where the Apple wealth comes from. It is from taking advantage of stupid tax policies imposed by the US government on corporations and Tim’s skill in outsourcing production to slave labor in China. He calls this “inventory management”.
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Unless there is some fanboi, I really suspect he travels with an entourage to discourage that. Plus whenever I travel usually I am not focused on people around me. I am usually staring at my phone like 90% of everybody else or staring out the window, or eating, or drinking at the airport pub.
And just because it is mandatory now does not mean he flew commercial prior, just means now he can't fly commercial at all now.