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| Tim Cook earned $98.7 million in 2021 |
According to a statement filed by Apple with the US Securities and Exchange Commission, the base salary, stock and other compensation of Apple CEO Tim Cook amounts to $98.7 million.
This statement shows how much money an individual can make after ten years of running the most valuable and profitable business in the world.
Although his base salary remained at $3 million, he received $12 million in compensation without stock, $82 million in bonuses, stock, and $1,386,559 in other compensation.
Other compensation includes $23,000 for vacation, $630,630 for security, and $712,488 for personal air travel.
As of 2017, Apple did not allow its CEO to use commercial aviation. For security reasons, the company asked Cook to use a private jet.
When you combine Cook's salary and company funds for security and private trips, that number comes close to $100 million.
That's more than six times his $14 million salary in 2020. In 2020, Cook's total earnings were $14.8 million, not including stock awards awarded during that period.
Since 2020, Cook's net worth has grown to over $1 billion. Given his recent share awards, this number could soon be surpassed.
That new figure does not include more than $750 million in stock granted this year as the latest part of the 10-year package that Cook received when he acquired the company.
The terms of the plan were changed in 2013 when the stock's performance slowed. The change came at Cook's behest, and if he doesn't return enough money to shareholders, some of the grants are at risk.
Tim Cook's salary will rise to $98.7 million in 2021
In August, Apple's market capitalization was just under $2.5 trillion. The company also hit the $3 trillion mark (regardless of time).
However, not all times are happy. In the past two years, Apple employees have never been more open to questions about their internal culture. This includes inviting people to return to their posts and promoting transparency.
These documents are primarily transparent to Tim Cook, other members of the Board of Directors, and the management team.
Other company executives such as Luca Maestri, Kate Adams, Jeff Williams and Deirdre O'Brien received compensation ranging from $26 million to $27 million.
Apple stated in its own documents that after accumulating the fair value of base salaries, bonuses, commissions and stock bonuses awarded to employees in 2021, their income amounted to $68,254. This means that the company's CEO compensation rate is now 1,447 to 1 compared to the salary of permanent employees.