Tim Cook, the CEO of Apple, is at the helm of one of the world’s most powerful technology companies. Naturally, many people throughout the world are curious about how much money Cook makes. Cook made a total of $98.7 million in 2021 from his basic pay, stock options, and other remuneration. When converted to Indian Rupees, that’s over Rs 733 crores! Security and private flights are among Tim Cook’s incentives as Apple CEO. In its most recent SEC filing, Apple revealed the CEO’s compensation package.
Cook’s remuneration in 2020 was around $14 million (nearly Rs 104 crores), therefore the $98.7 million is a substantial increase. Cook received $3 million (approximately Rs 22.30 crores) in base income and $12 million (about Rs 89.20 crores) for meeting the company’s financial and environmental sustainability targets, according to the SEC filing. Tim Cook also received $1.39 million (approximately Rs 10.33 crores) in salary, which included $712,488 for private jet travels and $630,630 for security, $23,077 for vacations, and $17,400 for a 401(k) contribution. Cook also received stock awards of $82.5 million (approximately Rs 613 crores). For security concerns, Apple says it does not allow its CEOs to fly on commercial airlines.
Apple is expected to grow at a rapid pace in 2021
According to the filing, Apple is expected to grow at a rapid pace in 2021. The lockout and COVID panic had no effect on the company’s global sales. Apple claimed a 33 percent increase in revenue and $365 billion in sales. Apple recently became the first business to be valued at $3 trillion, making it larger than many countries’ entire economies. Apple’s shares hit an intra-day record high of $182.88 on the first day of trading in 2022, putting the company’s market value slightly beyond $3 trillion. Apple’s market value is $2.99 trillion, and the stock ended the session up 2.5 percent at $182.01.
“It’s been a remarkable decade for Apple and in 2021 Mr Cook was granted an equity award for the first time since he was promoted to CEO in August 2011,” Apple was quoted as saying in the filing.