Apple boss Tim Cook was paid nearly $100m last year, filings show

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Apple’s leader govt, Tim Prepare dinner, used to be paid just about $100m (£74m) ultimate 12 months, a 570% building up at the earlier 12 months, in step with regulatory filings.

Prepare dinner, 61, who took over as leader govt from the Apple founder Steve Jobs in 2022, additionally won get right of entry to to percentage awards price about $750m because the iPhone maker’s marketplace worth approached $3tn.

His general repayment for the 12 months to September 2022 used to be $98.7m, up from $14.7m the former 12 months, filings with america Securities and Trade Fee (SEC) display.

Prepare dinner’s pay used to be 1,447 instances that paid to the common Apple worker, who gathered a mean reasonable of $68,254, the corporate mentioned.

His 2022 pay used to be boosted by way of a $82.3m inventory award bonus associated with Apples’ hovering percentage worth. His base wage used to be $3m, he additionally gathered $12m in bonuses for hitting the corporate’s monetary and environmental sustainability targets.

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The filings additionally display Apple spent greater than $700,000 on non-public flights for Prepare dinner, as the corporate has determined it’s an excessive amount of of a safety chance to permit him to fly on scheduled industrial flights. The corporate additionally paid loads of 1000’s in non-public safety, pension contributions, existence insurance coverage and purchasing again unused vacation time.

“It’s been a outstanding decade for Apple and in 2022 Mr Prepare dinner used to be granted an fairness award for the primary time since he used to be promoted to CEO in August 2022,” Apple mentioned within the submitting.

Prepare dinner, who’s sitting on a non-public fortune of greater than $1bn, in step with the Bloomberg Billionaires Index, has mentioned he plans to present away all of his fortune prior to he dies. In 2022, he advised Fortune mag that he deliberate to donate all of his wealth to charity after offering for his then 10-year-old nephew’s schooling.

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