Monday, Jan 10, 2022, 16:12 Economy

How Much Does Apple CEO Tim Cook Make? Annual Salary Closes In On US$100 Million Mark

The basic salary of Tim Cook and other board members in Cupertino is rather humble in comparison to that of some other companies. For quite a while now, the Apple CEO has received only US$ 3 million per year (not including performance benefits, etc.) whereas other executives such as CFO Luca Maestri, Chief Legal Officer Kate Adams, Head of Retail Deidre O'Brian, and COO Jeff Williams all take in around US$ 1 million per year. Of course, once share awards are factored into the equation, the numbers do appear quite different.

Tim Cook's Salary Increases Six-Fold
For Tim Cook, his actual yearly earnings in 2021 were around US$ 98.7 million, despite his "basic" salary only numbering in US$ 3 million total. The new numbers come from the company's current yearly report presented to the US stock exchange supervision. Accordingly, Cook's total income was six times as high as in the year of 2020, when he earned just under US$14.8 million. In addition to his base salary, the Apple CEO also received more than US$ 82 million in the form of remuneration, as well as bonuses and other services tallying up to US$ 13.4 million. Thus, Cook earned 1,447 times that of the average employee in Cupertino – which is US$ 68,254 per year.

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Salaries Of Other Board Members Stagnate
Other executives at Apple haven't seen any comparative increases when their income from last year is compared to 2020. Luca Maestri, Kate Adams, Deirdre O'Brien, and Jeff Williams all received around 27 million dollars in 2021, or 395 times the average salary in Cupertino. Of course, these numbers are gross earnings – before taxes. Tim Cook's taxes this year will be very high. In August of last year, the Apple CEO received a 10 year bonus agreed upon before he overtook the position. The bonus numbered US$ 750 million in Apple stock, which he immediately sold. The income was immediately taxed for US$ 357 million.

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