The potential of the Cupertino company is irrefutable and the current CEO has part of its merit. Despite the suspicion that the market presented in his first years in charge, 10 years later he has managed to expand the company’s business ecosystem beyond the ‘hardware’. All his successes are reflected in his earnings, and after 10 years in office, he will receive a significant sum in his salary for the benefits of his actions.
Cook came to his current position after the death of Steve Jobs, and although he was initially not well received by many people, there is no doubt that his work and his approach to the company have made Apple one of the companies of most important technology in the world, and also one of the most valuable. In fact, Apple stock has soared more than 1,000% since then.
When Tim arrived at the position he currently holds, he signed a contract in which if he reached certain jugs and met certain goals, he would receive a bonus. He has been achieving these goals and objectives, so his salary has been increased with certain bonuses. In addition, upon reaching 10 years as CEO of the company, another plus is added, so this 2022 his salary has been greatly increased.
How much do you really earn?
His assets will increase in the coming weeks due to a bonus for the performance of Apple shares. Taking on the role of chief executive in 2011, he struck a deal whereby he would receive an extra bonus on an annual basis if the stock outperformed the companies in the S&P 500 index by at least two-thirds. For this reason, this year he will receive a ‘ plus’ of 635,763,750 million euros .
The good numbers in Apple shares have made Cook receive significant sums of money every year, thus becoming one of the most sought-after billionaires. According to Forbes, his net worth amounts to 1.4 billion dollars and he is considered one of the 50 best leaders in the world.
The iPhone maker has benefited from strong demand for its products and services over the past two years, as work-from-home consumers have splurged on upgrades. Apple’s revenue rose more than 30% to $365.82 billion in its 2021 fiscal year, propelling its shares briefly past $3 trillion in market capitalization this year. Some very good figures for a leading company like Apple.
Cook, whose salary remained at $3 million, received $82.3 million in stock incentives, $12 million for bequeathing Apple goals and $1.4 million for air travel, retirement plans, insurance premiums and others. Additionally, in September 2021, Cook received 333,987 restricted stock units, in his first stock award since 2011 as part of a new long-term stock plan. Cook may receive additional units based on performance in 2023. Thanks to these actions, it is estimated that the American will earn around 630 million euros.