Digital Desk: Media reports stated that Apple’s Chief Executive Officer (CEO) Tim Cook made $98.7 million in base salary, stock, and additional settlement in 2021. In Indian rupees, he has earned nearly Rs. Rs 733 crores. Tim Cook is one of the highest-paid CEOs in the world.
According to the report published by The Verge, Tim Cook’s base salary is $3 million. However, he has earned an additional $12 million in bonuses and $82 million in stock rewards.
According to MacRumours, Tim Cook made $14 million last year. The amount also doesn’t contain the $750 million in shares granted this year as the absolute part of a ten-year package that Cook received when he took over from Apple founder Steve Jobs.
Some terms of that package were modified in 2013 when Apple’s stock underperformed — Apple has declared this was ordered by Cook himself — putting some of the grants at stake if the firm didn’t return enough money to shareholders. Since then, Apple stock has zoomed, and the firm became the first trillion-dollar enterprise by market capitalisation in the world in August 2018.
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In August 2018, Apple closed the $2.5 trillion market capitalization and briefly broke the $3-trillion wall.
Regardless, Cook’s authority has not ever been fine-going. Apple employees have begun coming on record like never before over the past couple of years about the Silicon Valley giant’s inner culture, including pay clarity and the motivation to return to offices amid the Covid-19 pandemic.
Apple stated in the report that after placing jointly “base salary, bonuses, commissions, and grant date fair deal of equity mentions given to workers in 2021 used balance effort” to resolve the payment of its median worker, they obtained $68,254 at an equilibrium ratio of 1,447 to 1.