Tim Cook’s compensation nearly doubled last year to nearly $100 million
Tim Cook had an excellent year.
According to a proxy statement filed by Apple on Thursday, the CEO received nearly $100 million in total compensation in 2021, a sixfold increase over the previous year.
Cook’s $98.7 million compensation package included approximately $82 million in stock awards. Additionally, Cook received a $3 million base salary, $12 million in bonuses, and reimbursement for company expenses such as private jets and security.
According to the filing, his total compensation is 1,447 times the median Apple employee salary of $68,254. Apple stated that this figure is based on a new method of calculating median employee pay.
Cook’s compensation increased during a period of rapid growth for Apple. In 2021, it reported record profit and sales, fueled by the continued strength of its core iPhone business and subscription services. Apple became the world’s first trillion-dollar company this week.
Cook assumed the CEO role from Apple’s late cofounder Steve Jobs a decade ago last year. Cook became a billionaire during his tenure as Apple’s CEO. He previously pledged to give away all of his wealth after paying for the college tuition of his nephew.