Tim Cook to Receive $750 Million Worth of Apple's Stock This Week

[astro_]

The fact that one job is more desirable than the other doesn't mean that the most desirable job is less stressful. Presidents desire their job and plan for it for years, but their stress level is usually something that very few people can even understand.

Then all jobs have stress. Name a single job that doesn’t. But if Tim gets sick he knows he’ll get the best treatment available on the planet with effectively zero cost. If anyone else gets sick they risk being made bankrupt for life and their family being homeless and/or starving.

If you honestly think Tim has as much stress as a poor person you have lived a life of privilege you should be more grateful for.

 

[astro_]

What do ethics/morality have to do with it?

What are the ethics/morality of nosing up someone else’s income?

Kinda just seems like garden variety envy/greed/hate, which never did nothing good for nobody.

Tim Cook should enjoy his earnings however he sees fit, and I think he should start by throwing himself one hell of a retirement party and for the 3-4 layers down of recent middle management hires.

No he should start by paying his taxes.

 

[yaxomoxay]

Then all jobs have stress. Name a single job that doesn’t.

All jobs have more or less stress. Who has ever said that it doesn't? However,

But if Tim gets sick he knows he’ll get the best treatment available on the planet with effectively zero cost. If anyone else gets sick they risk being made bankrupt for life and their family being homeless and/or starving.

Usually stress and paycheck are somewhat correlated to responsibility.

If you honestly think Tim has as much stress as a poor person you have lived a life of privilege you should be more grateful for.

Thank you for being such a judge of character of people you don't know, from the poor person to Tim Cook, and now to me. I have no idea about the stress Tim Cook has, and no idea about the stress that poor people have. It's usually correlated to responsibility, but also on personality. I've met people with zero dollars (and I mean homeless) that live very happily. I actually know a guy that lives in his car, works minimum wage jobs part time, and he loves it. I can say for sure he is less stressed than Cook, or even me.

 

[astro_]

All jobs have more or less stress. Who has ever said that it doesn't? However,


Usually stress and paycheck are somewhat correlated to responsibility.


Thank you for being such a judge of character of people you don't know, from the poor person to Tim Cook, and now to me. I have no idea about the stress Tim Cook has, and no idea about the stress that poor people have. It's usually correlated to responsibility, but also on personality. I've met people with zero dollars (and I mean homeless) that live very happily. I actually know a guy that lives in his car, works minimum wage jobs part time, and he loves it. I can say for sure he is less stressed than Cook, or even me.

Yeah and waitresses must be so content earning below minimum wage. Why else would they smile so much? Not like the tips they depend on are proportional to how pleasant they seem. Oh, wait…

 

[farewelwilliams]

It’s not like if Tim calls in sick then Apple closes all its factories and stores around the world. Get a grip.

What? That's ridiculous.

Also, it's not like Tim hired 100k employees and then realized he has no way to pay those 100k employees.

Gonna end it here with you.

 

[astro_]

What? That's ridiculous.

Also, it's not like Tim hired 100k employees and then realized he has no way to pay those 100k employees.

Gonna end it here with you.

Oh so Tim personally covers the wages and debts of Apple Inc. if business takes a downturn. So sorry, well done Tim Cook!

 

[yaxomoxay]

Yeah and waitresses must be so content earning below minimum wage.

Some are. Some aren't. Are you done with generalizing just to make a political point?

Why else would they smile so much? Not like the tips they depend on are proportional to how pleasant they seem. Oh, wait…

What are you even talking about?

 

[Squeak825]

No he should start by paying his taxes.

He does. Every stock grant that he has received you can see how many were withheld to pay his ordinary income taxes.

 

[Squeak825]

I’m not envious of anyone earning anything. So long as they pay the same percentage of their earnings in tax as I do. Deal?

He does. It is taxed as ordinary income.

 

[dukebound85]

There's no moral/ethical reason why he shouldn't be given that "obscene" amount of wealth.

wrong on many levels

 

[applesque]

wrong on many levels

Care to explain?

 

[dukebound85]

It’s not like if Tim calls in sick then Apple closes all its factories and stores around the world. Get a grip.

amazing how people defend billionaires

people don't comprehend how much this truly is

 

[mi7chy]

Increase iPad Pro prices to $3K so he can get an even bigger compensation package next year.

 

[8281]

Unless it's you or me, right? Then of course it's ok 🤣 I'm sure you'll deny that, but come on, you know it's true. It's simply envy that leads people to say things like this. If you read the article, you would see he clearly deserves (and is owed) this based on his performance and the agreement he had. He's worked hard to earn his success.

Corporate performance and CEO compensation don't often align very well. There are countless variables contributing to stock prices that have nothing to do with Cook's, or any other executive's, decisions. Corporate boards often peg compensation to the median compensation of other firms in similar industries, which means over time the pay will rise irrespective of any individual actions.

 

[cuhulin]

I support Cook as CEO but I have to disagree. I don't think paying one man such an insane sum of money is ever deserved. I'm glad he plans to give most away though. He's certainly doing much better than other wealthy CEOs in that regard.

As the article notes, this stock grant is part of Tim's initial compensation package. The value of the stock back when that was written was much smaller that it is now, and I doubt that Tim would have received it at all if he hadn't done a good enough job to stay as CEO for these ten years. Put differently, he really earned this, first by doing a job that convinced the board to keep him and then by raising the value of the stock (Bloomberg says it has gone up 1100 percent during his being CEO).

 

[applesque]

oh absolutely. i do think there should be some more progressive legislation around taxing extreme wealth. Taxing equity is not as simple as most people think, though. I think a lot of folks hear "Tim Cook to receive $750m worth of apple stock" and assume we can tax it like it's ordinary income, which it's not. Not to say that it couldn't be done but it's gonna take work (and willing congresspeople) to figure it out.

One really interesting read about extreme wealth is this guy's page on wealth shown to scale.

Wow! great read! thanks!

 

[usagora]

Corporate performance and CEO compensation don't often align very well. There are countless variables contributing to stock prices that have nothing to do with Cook's, or any other executive's, decisions. Corporate boards often peg compensation to the median compensation of other firms in similar industries, which means over time the pay will rise irrespective of any individual actions.

All I'm saying is no one can say with a straight face that he didn't earn it, regardless of how the numbers were arrived at. He's a hard working CEO just like many others - just happens to be at the helm of an incredibly valuable company.

 

[wigby]

RIP OFF!
Steve Jobs worked for a whole lot less and ran the company so much better.
Steve Jobs was reported to be taking as little as $1 a year salary. He was compensated in Stock.




When Jobs sold NeXT to Apple in 1997, he received 1.5 million Apple shares. But he sold them to protest the company's appointment of Gil Amelio as CEO only a few months later. Plus, from 1997 to 2011, Jobs made an annual salary of just $1 at Apple.

Since Cook took over, AAPL market value is up over 1000%. That's the definition of running a company better to the board, investors and analysts. And Jobs wasn't making some moral stand, he was collecting $1 so he didn't have to pay any taxes on income.

 

[avz]

I would never accept that amount of money for anything. Ever.

I guess this is why they say you must adopt “think rich” mentality long before you actually become rich.

 

[Scotticus]

I don’t understand what your point is with the Japanese CEOs. Apple has generated more income and has more money to pay its executives. As Apple grew, of course their salary went up. If a Japanese CEO led their company to be one of the richest companies in the world, I’m sure they’ll be compensated — unless I’m completely missing an economic, labour law or something pertaining to Japanese salaries here.

You are

 

[JosephAW]

Does this mean he leaving soon?

Another option for Tim is to pass that amount on to users instead of raising the prices on the upcoming iPhone.

 

[telo123]

More money, more problems.

People just love to hate on the internet, lmao.

to people saying he should reduce prices on their flagship iPhones, well no one is making you buy their flagship are they? That’s literally why the iPhone SE 2 is present. Or Facebook Marketplace. They literally have no incentive to make their flagship cheaper when other companies such as Samsung are selling them for the same price, if not more.

 

[richpjr]

Same day as speculation that the cost of the iPhone 13 will be higher this year!

The irony of this is staggering...

 

[reyesmac]

I guess that explains why he is always cackling like a madman in all the thumbnails in a bunch of youtube videos. I would too if I can get away with designing computers that cost less to make than the competitors yet can charge substantially more for them just because you can.

 

[0924487]

He’s gay, so he can’t possibly have biological children. Sizeable inheritance otherwise for his kids.

I would’ve lost the motivation to work if I have more than enough money for me to blow through in my lifetime and no children to inherit my legacy. At some point in wealth accumulation, family, kids, health and security matters more than making more money.