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Apple CEO Tim Cook Now the Eighth Highest-Paid Executive in the U.S.
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Solely? No. He’s the top guy. Sorry you disagree with this practice, but he’s as important as it gets at Apple, has done a great job, and is compensated accordingly.
You can’t do anything close to Cook and to think you can completely underestimates his job. You couldn’t last a day doing it.
Yes, and he should. The only argument is should he be paid more. Look at the $1T in value created. The board approves his compensation! They think he’s worth it, evidently. 😂
Apple Pays 100% of their tax bill, as required by law. Again, sorry you don’t agree with how business works.
Putting Apple Factory Workers Wages in Context
Wages at Foxconn and Pegatron factories are low by North American standards. But the company doesn't employ slaves in China. In fact, factories are closing down because of the relatively high wages in China compared to the region.
wccftech.com
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Not to worry as the market will then decide if a $4k iPhone is priced right.
He can afford to use the good toilet paper. 👍👍
Apple CEO Tim Cook has fallen to eighth place on a list of the highest-paid CEOs and executives in the United States last year despite earning more than the previous year, according to Bloomberg.
Cook was paid $265 million in 2020, mainly comprising stock awards and a bonus as in previous years, making him the eighth highest-paid executive in the United States. Last year, Cook was paid compensation of $133.7 million, but ranked second after Tesla CEO Elon Musk, who was paid $595.3 million.
Cook has overseen Apple's rise to become the most profitable company in the world this year with revenue of $274.515 billion and profit of $57.411 billion, according to the Fortune Global 500 rankings.
In 2020, Cook was surpassed in terms of pay by the COO of Oak Street Health, the CEO of Palantir Technologies, the CEO of Opendoor Technologies, and the Co-CEOs of GoodRX Holdings. Elon Musk again overwhelmingly topped the list with compensation amounting to $6.658 billion.
Last month, it was alleged that Musk demanded to become the CEO of Apple as part of early discussions around a potential Apple acquisition of Tesla, though Musk denies this.
Apple's Senior Vice President of Retail and People Deirdre O'Brien and Senior Vice President and General Counsel Kate Adams also made the list in 93rd and 96th place, with pay of $45 million each. This makes O'Brien and Adams the fourth and fifth-highest paid women executives in the United States.
Article Link: Apple CEO Tim Cook Now the Eighth Highest-Paid Executive in the U.S.
Businesses don't create our tax structure (at least not directly). The issue presented here is that they have figured out ways to work around paying their fair share. Whether you think it's fair or not for $1T businesses to pay a remarkably small percentage of that in taxes for the benefit of having the best workers in the world, under a stable government, in the best market in the world is not the issue here. You've responded to an argument that Yokon54 hasn't made.
Nope. No one who makes $265M a year is underpaid. No matter how much they do for the company. I don’t begrudge the rich their money as long as they earn it honestly, but there comes a point at which it is just obscene and any more is just silly.
You're presuming that Cook alone created that $1T in value. He didn't. The Board is just as faulty in awarding him that level of compensation, but as you demonstrated in other posts, it's easier to argue with someone when your points aren't responsive to their argument.
Apple’s tax rate is public information and they pay what is legally required. Fair is in your mind. Shareholders wouldn’t allow the, to give away their money. Remember, we own the company as shareholders.
Tax rates also go up and down. It’s 21% at the moment but was 35% for years. Is that not enough? I suggest writing your congressman.
Again, not responsive. I was making the point that anyone, including me, who was placed in the position of being Apple's CEO would have maintained the strategy that Apple has had since the very beginning, making computer based hardware and software. You had suggested that it wasn't the global pandemic that was largely responsible for Apple's growth over the past year, but rather Cook's strategy, but selling computers was not a novel strategy and certainly doesn't warrant making $1M/day. You actually made my point. I don't claim to be ready to be Apple's CEO. You apparently agree, but if someone as ill-prepared to be Apple's CEO as I am would have maintained the brilliant strategy of selling computers during a pandemic (and surely ANYONE would have), then maybe he was being overpaid.
I presume nothing. He led a Company that grew $1T in value in a year so he gets a massive payday. The Board approves his compensation. Shareholders are happy he’s the CEO. The end.
You literally have no idea what goes into being a CEO or that your “set it and forget it” strategy would yield similar results. Running a business isn’t easy. Go try to open a lemonade stand before presuming you could run Apple just by “maintaining” an existing street. Laughable.
Apple executes better than any company in the world and Tim Cook started that dominance as the supply chain guru. He was the most highly compensated Apple employee for a reason. Jobs was not an idiot and knew what he had.
How many shares do you own? Unless you’re an owner, your opinion isn’t meaningful. As a shareholder, I completely agree with paying Tim Cook this much or more. I vote with my shares. You vote with yours.
The argument here, since you appear to need to have it spelled out for you, is that the tax structure is filled with loopholes to allow companies to pay less than their fair share. No one is accusing Apple of breaking any laws. They are saying that the law is not working. That's not Apple's fault (no has claimed it is), but you suggested that that's not how business works when someone else said that the tax law wasn't fair. Yes, we know that's not how business works. That's really the point. It doesn't work that way because the law allows them not to.
Apparently I'm not doing a good job of presenting my point because you continue to respond to points I'm not making. While it's presumptuous of you to act as though you're the only Apple shareholder, you drive home the only option remaining for those who are not ultra-wealthy. They can't get companies to change by controlling enough shares. They can, however, use the free market to boycott, or purchase products, they can start grass-roots campaigns to promote politicians who support their agenda, and they can join with others (whether that be through a union or some other method) to use the power of numbers. Some will call that cancel culture, but it's the free market at work.
As I wrote elsewhere, he was not paid $265M last year. His compensation last year was about $14M of which $3M was cash and the rest were bonuses and options. The $265M comes from earned options from year's ago that became vested and performance bonuses for a job well done. There are many Apple ex-engineers/software devs that are worth $5M+ due to stock incentive programs and personal stock purchases. And every employee can participate in the stock purchase program. For long term employees that participated, they are quite well off.
Putting Apple Factory Workers Wages in Context
Wages at Foxconn and Pegatron factories are low by North American standards. But the company doesn't employ slaves in China. In fact, factories are closing down because of the relatively high wages in China compared to the region.
can you show me where that article says that Foxconn workers earn more than most people where they live?
that's what your claim was
...
I found this:
"The average monthly wage in Hengyang, Hunan, last year was 4,647 RMB ($725.22), but Foxconn workers earn an average of $390.16 a month."
Amazon and Foxconn reportedly strip workers of benefits and pay low wages in Chinese factory
Workers need to ask permission to go to the bathroom
www.theverge.com
I appreciate your efforts to keep this amicable, but it feels like you're making a distinction without a difference.