Wednesday, Aug 11, 2021, 16:50 Economy

Tim Cook Doubles Income – Steps Into CEO Rankings

Headed by Tim Cook, Apple has broken record after record – especially of late. Just recently, the company announced one of its most successful quarters in history, and that comes after an already rather successful 2020. Such successes have a direct impact on Tim Cook's personal earnings, which have more than doubled.

Tim Cook's Income: US$265 Million
According to Bloomberg, Tim Cook earned US$265 million in 2020, with his remuneration from Apple almost doubling within that time in comparison to the previous year. In 2019, the head of Cupertino only earned US$133 million – with an additional bonus of US$10.7 million including pecuniary benefits and perks totalling US$1 million, although only 1 percent of that is accounted for by his personal salary of US$3 million.

advertising


advertising




Compensation Mainly From Stock Options
The vast majority of Tim Cook's personal earnings in 2020 stems from stock options assigned to him. These value more than US$250 million in total, almost double as much as the shares that were given to him in 2019. These are of course impressive numbers that directly mirror Apple's current performance on the market. However, despite the impressive earnings, the Apple CEO is still far away from place 1 on Bloomberg's list. Tesla CEO Elon Musk, for example, received almost US$6.7 billion in stock options last year. More than 10 times that of the year prior. The massive increase in Musk's personal earnings is mostly due to the electric car manufacturers recent and very strong increase in appraisal on the stock market. Musk does not receive a regular salary.

Only At Place 8 On The List
Despite Tim Cook's personal earnings having doubled last year, Tim Cook actually took a few steps back in the US CEO rankings. In 2019, he was still number 2 on Bloomberg's list of the top 10 highest-earning CEOs in The United States, however, as of 2020 – he's now number 8, despite having doubled his earnings. Above him in the rankings are Mike Pykosz from Oak Street Health (US$568 million), Trevor Bedzek and Douglas Hirsch (almost US$498 million) from GoodRx Holdings and Eric Wu (Opendoor Technologies, approx. US$389 million). Alex Karp from Palantir Technologies (around US$370 million) and Geoffrey Price (Oak Street Health, about US$356 million) are also ahead of Cook.

More mtech.news articles you might enjoy to read: