Tim Cook, current CEO from Apple, raised around USD 100 million over the last year of 2022 in direct wages and compensation. More specifically, the executive earned 99.4 million dollars, or around 91.63 million euros at the current conversion rate.
The values were recently released by Apple itself in a press release made available later this week. It is important to note that the main slice of the pie did not come from monthly salaries, but from dividends and the fruits of shares held by Cook over the last year.
In 2021, Tim Cook raised 98.7 million dollars, an amount that increased in 2022
Specifically, Cook took home around US$3 million in salary payments – the effective salary throughout 2022. However, the dividends from the shares and other securities held by him would be worth a total of US$83 million in last year.
Adding to the equation we also have bonuses, compensations and other tax adjustments that would bring him an additional $13.4 million last year. By way of comparison, Tim Cook would take home about $98.7 million in 2021.
Apple CEO cuts his salary by 40%, says Mark Gurman
Apple CEO Tim Cook’s pay will fall over 40% in 2023 (from $99.4 million to $49 million) after shareholder feedback and a recommendation from Cook after that feedback. https://t.co/qTtGmiAYz7.
— Mark Gurman (@markgurman) January 12, 2023
In 2023, Tim Cook will see his salary drastically reduced, by around 40% at his own request. This inference is based on the feedback provided by the Cupertino giant’s shareholders and other recommendations from the company’s investor meeting.
Thus, after becoming aware of the position of the main shareholders of his company, Cook will have taken the lead and requested a drastic reduction in his salary. Likewise, Cook will also have to adjust the values of remuneration amounts and bonuses to which he will be entitled.
That is, not only will his salary be truncated, but also the other bonuses he would be entitled to in 2023. In light of the disclosed documents, Cook may receive around US$49 million in 2023 as miscellaneous compensation. The reduction, once again, will be around 40%.
Tim Cook will see his salary reduced by 40% throughout 2023
The aforementioned financial adjustments in no way imply the status of Apple’s accounts. One would think that the company was running in the red, but that would not be further from the truth, with Apple again surpassing the targets throughout 2022.
Indeed, the Cupertino giant, under the guidance and leadership of Tim Cook, continues on its path of success as one of the most profitable companies in the world. Once again, sales of its Apple iPhone led revenue, with services also growing at a good pace.
Finally, Apple holds its next general meeting with investors in March 2023. There, the technology will discuss the state of accounts, challenges such as inflation and the impact of the pandemic, as well as the war in Ukraine, factors with an impact on last year, in addition to discussing the goals for 2023.
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