I thought it was implied when you said who is worth £1.8M a day. Apologies for the confusion
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Tim Cook's Compensation Was Comparatively Modest Among Highest-Paid CEOs of 2020
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If you think that's true because "everyone knows it", I would advise you to actually look at the data. Yes, they have kept their revenue in Ireland but the only country that loses from that is the US as they aren't repatriating.
Otherwise, just under 50% on billions of dollars is absolutely absurd.
How is the Coates family tax bill of just under 50% on their personal wages of £1.1 billion absurd?
Buying anything on-line through Apple in the UK goes through Ireland who have an ultra low tax rate for Apple, Apples UK tax of £6 million on UK sales of £1.4 billion, (that doesn't include services or subscriptions) is what's absurd. but hey ho you defend them.
Seriously, did you even read the original post I made? What has any of this to do with what I posted? I have no disagreement with what you are posting other then it is unrelated to what I posted. Feel free to post but leave me out of it.
Which would be the point of my original posting had you read it. Post away but leave me out of it.
Yeah, overcompensation is a systemic infection. I remember a company wasn't doing so well about ten years ago. They had just given their 'management team' raises, and bonuses. A hedge fund investor balked at the increases, and the company spokesperson said, with a straight face, that they had to compensate people at a level high enough to retain them, to make them want to stay. Many people said that they were performing so poorly, they should get their pay CUT not raised. Eventually, some of their management was fired, but the raises stayed.
And, this discussion ignores the entire back side of this issue: GOLDEN PARACHUTES!
15 or so years ago, a health insurance company CEO was 'asked' to quit. His top request, aside from corporate jet access, and of course huge monthly payments was, for him and his wife, 'Total Healthcare Coverage'. That last bit was galling... The company would be required to cover ALL of their healthcare COMPLETELY! No co-pays, no games, they would cover 100% of their healthcare, in perpetuity, until they died.
A health insurance company that made billions a year out of denying people life saving treatment, and medicines, and the jackal wanted, and got, the Cadillac of Cadillac agreements! How disgusting!!! I'd force him to take their lowest coverage, and lump it. Especially considering he was being 'asked' to quit. Apparently he had them over a barrel or something. He walked with a hell of a parachute deal. And, apparently he was a complete malignant POS human being.
As an aside, I worked at a university for years, and they were forced to release the salaries of the 'upper crust' there. People were surprised how much people made, but horrified at the amount of money the FOOTBALL COACH made. He extorted almost twice what the university president got. The assistant coach made just under the president's salary. For 'sports'. Good grief...
Congrats to Tim. I think he has done a very good job at Apple.
I am not defending Apple on that. It's just completely different than the wage and personal income tax of a CEO. Taxing them higher above a certain amount encourages them to leave more of it for their employees rather than themselves. It is meant to be painful, it's also the entire point of a progressive tax system.
Apple isn't supposed to be taxed on revenue, no company is. Their profits after administrative expenses for the quarter you are referencing was 39 million, not 1.4 billion. If the money were being funneled, it would never have been as high as 1.4 billion anyway...sounds like you're doing a bit of that "everybody knows this" crap again.
Sorry but I totally disagree with you. All the big tech stocks have boomed in the past few years. Do you think Zuckerberg is doing a good job because Facebook shares are up?
Considering Apple has the largest market cap in the world, any CEO making more than Cook is wasting shareholder money.
Are you confusing median with mean? Median salary is the middle salary. If you have 5 employees, the median is the third-highest (or third-lowest) of the bunch. I expect their mean salary is probably much higher, given the high compensation of their engineering and executive staff, but I expect their median to be relatively low given the large number of lesser-compensated retail employees.
Considering Facebook has 2.85 billion active users, with Q1 2021 revenue of $26 billion (up 48% over the previous year's Q1 quarter) I would say he's doing a fantastic job.
Is it me or is the pay measely? I mean for a guy who is responsible for everything a $2T company does...$15M seems a little bit low.
Also, why even bother pay Dorsey $1.40, I wonder how the accountant's face looked as he was putting this in the ledger.
Also, why even bother pay Dorsey $1.40, I wonder how the accountant's face looked as he was putting this in the ledger.
Nobody needs more than that per year. The pay for CEOs is completely out of control. CEOs with outrageous salaries usually tend to be bad anyway… they care about themselves more than the company.
There are more Apple customers and users than at any other point in history. Many of Apple's products has never sold more than they do today, like the Mac line.
If it causes you to be unhappy for 50 years, that's fine by me.
Apple were the first to reach a trillion dollar valuation, they dominate the wearable market and have successfully challenged Intels dominance with their move to the M1 chip that has the potential to skyrocket their Mac sales all over again.
Let’s be honest here, there’s probably nothing Apple could do that would make you happy. Why not just admit that and move on?
Your example doesn't reflect Apple.
It is more like $1 * 60,000 + $2 * 40,000 + $5 * 20,000 + $15 * 10000 + $100 * 1000 + $1000 * 50
It doesn't really matter what happens to the most payed people at Apple when it comes to the median.