Apple boss Tim Cook receives significantly less money – because he wants it that way

In the current year, Tim Cook will earn much less than in 2022. The Apple boss himself proposed the extensive salary cut. However, Cook should not starve, because it is still a matter of several million US dollars.

Tim Cook: Apple CEO with 40 percent less salary

This is at my own suggestion Annual salary for Tim Cook has been noticeably reduced. After an overwhelming majority of Apple shareholders agreed to a cut, the cut is a done deal. According to this, Cook will earn much less in 2023 than before, but will still receive a large amount in the millions.

How much money Cook gets at the end of the year depends in part on Apple’s financial results. The target for 2023 now applies $49 million. For comparison: A year ago it was 84 million US dollars. In the end, however, Cook is said to have received a total of 99.4 million US dollars (source: Bloomberg).

Cook’s compensation is based on a base salary of $3 million per year and has not changed. There are also other possible bonus payments of 6 million US dollars. The situation is different with the allocation of shares, which drops from a previous value of 75 to now 40 million US dollars. How many shares Cook gets is now more dependent on Apple’s business results.

With the money, Cook could treat himself to one or the other iPhone 14 with an integrated Rolex:

Tim Cook: Pay cut after criticism

The consulting firm Institutional Shareholder Services, among others, had previously been bothered by the sum and salary structure of the Apple CEO. According to her, it is the wrong incentive if no performance criteria for half of the compensation be applied.

In 2015, Cook had announced in an interview that he would be in the future donate all assets to charity. He could envision starting something similar to the Bill and Melinda Gates Foundation to manage his philanthropic efforts.