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Apple CEO Tim Cook Earned $9.2M in Fiscal 2014, Doubling 2013 Compensation
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I can't blame them for getting it while they can. I would.
Good for them.
Humm, I wonder if I could borrow 10 bucks from Tim.... he probably doesn't carry money, just uses
Pay
Good for them.
Humm, I wonder if I could borrow 10 bucks from Tim.... he probably doesn't carry money, just uses
PayHe did also have about 1.4 million shares of AAPL vest this past year. So his compensation was, in reality, well into 9 figures.
That's how the compensation package was originally set up, but it was later modified. As it is he's scheduled to have 700,000 shares vest in 2016 and then another 700,000 vest in 2021 as well as another 500,000+ vest each year for the next seven. And, yes, those numbers reflect the stock split.
To everyone that thinks Apple doesn't overcharge for their products, those executives on the list give you a hearty "Thank You".
Mutha****a deserves every penny. Thank you, Tim! I'm moving into a new house next month because of him. And in my office his picture will be next to MLK and RFK.
I don't think that Apple overcharges for their products but the vast majority of executives at Fortune 1000 companies are definitely overpaid. Earning up to 700 times as much as the average worker in your company is beyond any logical explanation.
swingerofbirch
macrumors 68040
I am not in the business of capital. But it doesn't matter what I as an individual do.
It doesn't matter what Tim Cook does either. What matters is that wealth is greedily hoarded by a minority of people.
To start with, I don't believe communism works. But there has to be a recognition that a country's wealth in today's age comes from its comparative advantage in certain resource sectors. The US as a whole is wealthy and increases its wealth through capital—capital is the US's most valuable resource. Our international system and most domestic systems are largely set up to allow the most powerful countries to benefit from their greatest resources. US capital wouldn't be worth nearly what it is without those political decisions, without Nixon and Clinton making deals with China. Because capital is our most valuable resource, the US as a whole could be very wealthy whether there is large unemployment or not—labor is not our most valuable resource. To be clear, I think working is good for a large number of reasons. But what I despise are pundits who will talk about how unhappy workers should work harder, better themselves through more education, etc. No one does that more than Americans among developed, mature democracies. Among DMDs, we are the hardest working. I see kids in their 20s going to school full time and working full time. And yet their wages are stagnant, while the stock market doubles in value every 5-10 years.
You'd have to be a fool to not use your political leverage to demand that a country's wealth gained through the resources of its capital owners not be distributed fairly among a country's citizens. You can debate what fairly distributed means, but capital owners know this as well. I would imagine they're all fairly surprised that there has been no movement to stop the gravy train yet—they know what they are getting away with. They get this. They engage in the political rhetoric, as well, about the pride of wearing lunch bags on your feet as Joni Ernst said the other night and working three jobs while going to school, which for most people results in stagnant wages. The capital owners know that it doesn't really matter that much if people work or not. Work is a means of income, but you can see even with Walmart, income from work is becoming combined with distribution of money from the government due to Walmart's low wages. Work and working harder is what we tell poor people are the only attributable factors to their success or lack of of it. It's not true. People say we shouldn't engage in class warfare; the people who say that are the ones who know there is never a time that there isn't class warfare. We are in class warfare and the losing side doesn't know it. MNCs make their billions off of free-trade policies and political maneuvering that keep people from having an effective say in their government.
So yes, Tim Cook, does make capital make money, as you said. That's his business. I believe Apple should pay their fair share of taxes and not use shady loopholes to avoid paying into the Social Security system and should actually hire the people who work for them and pay them good wages. I think we should have a belief that our American companies should be patriotic and not exploitative. They benefit from our public schools that educate the people who work for them, from our infrastructure (financial and physical), from our public/private banking system, and on and on. They benefit enormously and I believe the American attitude should be to expect patriotism from them as a result.
“Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.” —John Steinbeck
EDIT: I wanted to expand on my example of full-time college students working full-time jobs (which is a real thing). There are wealthier countries per capita than the US (such as Scandinavian countries) that invest in their people, that allow their people to attend any university including medical school for free (tax-funded), manage to pay for their housing and give them a living stipend. These students don't work harder than Americans, but they are wealthier. It's a matter of priorities and belief in fellow man's worth and dignity.
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It's crazy that Apple's financials are so solid, yet every quarter, and every product release, the media basically says Apple is failing/on the verge of failing. I clearly don't understand anything.
Tim Cook should have earned nothing. He puts out the crappiest os apple has had since os 9, and he made the iphone software just as buggy and problematic as an old cheap chinese android device from 5 years ago.
Apple is the new android and android is the new apple!
Yah, way to go, Tim!
Is it just me or does anyone else seriously want to punch tim cook in the face every time they see him?
Apple is the new android and android is the new apple!
Yah, way to go, Tim!
Is it just me or does anyone else seriously want to punch tim cook in the face every time they see him?
Wow! Just wow! While I agree that most CEO's are totally replaceable. That is NOT the case of Cook, who has been hand picked by Jobs and has been there taking care of the nitty grity of the supply chains for 15 years. He's probably actually one of the rare ones that are actually worth more than they're paid.
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Oh, right, despite IOS 4 just about disabling the 3G... (and almost the 3GS)... You think IOS 8 is worse. You just proved your argument null and void.
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Isn't the operation/logistics/supply chain guy responsible or well, quality.. So, he was responsible for quality all those years you lauded Apple. And now, the same guy is incapable of that same quality? That makes soooo much sense.
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You mean tanked like the massive bugs in IOS 4 developed under Jobs... Well, hey! Bias is a sad thing.
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I don't agree with the notion that things at Apple have "stumbled significantly" since Cook began leading Apple. NOT AT ALL. In my opinion, those making such comments forget that Apple stumbled many times pre-Cook. Just Google, "Apple failed products" and you'll see a dandy list of products that failed under Jobs' tenure at Apple, not to mention the more recent antenna-gate that significantly tarnished Apple's reputation as only creating near perfection.
Keep in mind, Cook is driving a much more complex company today than Jobs did when he began leading Apple (or coming back to Apple). Not to mention that today's Apple products (software and hardware) are significantly more complex than just 5 - 7 years ago. Add to this, the competition between Apple and other companies is at a peak. Apple didn't face this level or type of competition in the years pre-iPhone.
You can also look at the sales figures to get an idea of how BIG Apple has become since Jobs died. Just before Jobs went on medical leave (and then later resigned entirely), Apple's revenue was $65 billion annually. That was in 2010. In 2014, annual revenue has increased to $183 billion. That's a triple increase in 4 years for Apple. I really can't imagine an outsider leading Apple during those crucial years. Cook is still mostly steering Apple in the direction Jobs set. A different CEO would likely have created his own vision for Apple by now. Not surprisingly, when people complain about Cook, I have yet to hear of a better (or even decent) alternative.
Cook has made mistakes. No doubt. But so did Jobs. Considering how much Cook is now overseeing, and the growth Apple has experienced since Jobs died, I think that he has done an exceptional job. Yes, I'd like better quality with some things. But, I'm NOT SURE if Apple can get back to those earlier days of near perfection. We're simply dealing with a much higher volume (production levels) AND today's technology is far, FAR more complex than when I had my first Mac 20+ years ago, or even when I bought the first iPhone.
Keep in mind, Cook is driving a much more complex company today than Jobs did when he began leading Apple (or coming back to Apple). Not to mention that today's Apple products (software and hardware) are significantly more complex than just 5 - 7 years ago. Add to this, the competition between Apple and other companies is at a peak. Apple didn't face this level or type of competition in the years pre-iPhone.
You can also look at the sales figures to get an idea of how BIG Apple has become since Jobs died. Just before Jobs went on medical leave (and then later resigned entirely), Apple's revenue was $65 billion annually. That was in 2010. In 2014, annual revenue has increased to $183 billion. That's a triple increase in 4 years for Apple. I really can't imagine an outsider leading Apple during those crucial years. Cook is still mostly steering Apple in the direction Jobs set. A different CEO would likely have created his own vision for Apple by now. Not surprisingly, when people complain about Cook, I have yet to hear of a better (or even decent) alternative.
Cook has made mistakes. No doubt. But so did Jobs. Considering how much Cook is now overseeing, and the growth Apple has experienced since Jobs died, I think that he has done an exceptional job. Yes, I'd like better quality with some things. But, I'm NOT SURE if Apple can get back to those earlier days of near perfection. We're simply dealing with a much higher volume (production levels) AND today's technology is far, FAR more complex than when I had my first Mac 20+ years ago, or even when I bought the first iPhone.
I never used ios 4 so I really can't say anything about that. I used ios 3 with an old 2g iphone and then I used ios 5 when I upgraded to the iphone 4 (it came with ios 5 on it when I got it) and then updated the iphone 4 to ios 6, which was a mistake and what ultimately made me switch to android.
So from what you're saying, bugs aren't a new thing for the iphone? Oh, and I thought it was supposed to be the "best" smartphone in the world?
I can visualise the negotiations with Angela Ahrendts...
Angela: I'm treated very well here, I have not yet completed the project I've started and although I'm extremely well paid, money is not what it's about for me.
Apple: how much are they paying you?
Angela: 37 million.
Apple: Let's make it 74 million.
Angela: When do I start.
Angela: I'm treated very well here, I have not yet completed the project I've started and although I'm extremely well paid, money is not what it's about for me.
Apple: how much are they paying you?
Angela: 37 million.
Apple: Let's make it 74 million.
Angela: When do I start.
So, you just admitted to beign here for no good reason at all. Got time to kill?