Apple recently released its annual announcement for investors. Like every year, the announcement reveals various details about executive compensation, shareholder proposals and more. Of course, the most prominent of these is the money that Apple CEO Tim Cook earns from the company.
In 2022, Tim Cook’s salary was targeted at $84 million at the beginning of the year, but with Cook’s performance and various other factors (which we will talk about in a moment), his salary reached $99.4 million. Last year, this target amount was $49 million, 40 percent less than the 2022 target.
Cook earned exactly 63,209,845 dollars last year. This is 28 percent higher than planned and 36 percent less than what he earned in 2022. You can see how this amount is calculated below:
Salary: $3,000,000
Stock Awards: 46.970.283 $
Non-Equity Incentive Plan Compensation: 10.713.450 $
All other compensation: 2.526.112 $
With this calculation, Apple states that employees earned an average of 94,118 dollars in total in 2023. Compared to Cook’s salary, this amount corresponds to 1 in 672.
Private jet allocated to Cook
Since 2017, Apple’s board of directors has passed a resolution requiring Cook to use a private jet for all business and personal trips “for security and efficiency reasons”. The announcement also includes the cost of this jet:
In 2023, according to Apple, Mr. Cook spent $1,621,468 on air travel, close to double what he spent in 2022.
It is also reported that Apple spent 820 thousand dollars for Tim Cook’s personal security.
