Apple paid CEO Tim Cook nearly $100 million for his services last year, equivalent to around $88.5 million. This is evident from official documents that the tech group submitted to the American stock market watchdog SEC. The majority of that amount consists of stock options.
Cook was awarded extra shares last fiscal year because he led Apple for ten years. In 2020, for example, he received a total reward of less than $15 million.
Cook’s base salary has been $3 million for years. In addition, he was awarded $12 million for meeting certain sales and operating profit targets. He received more than $82 million in stock options.
Apple also paid about $1.4 million for, among other things, Cook’s security and the use of private planes. Since 2017, the board of Apple has forced Cook to use a private plane for all his trips, both business and private, and the tech group therefore also pays for this.
Of the stock options that Cook has been given in recent years, more than 5 million shares became available to sell. They were worth $754 million. Apple is based on the daily price when the shares were released, but the price of the Apple share has since risen further. On Monday, Apple became the first publicly traded company worth 3000 billion dollars (converted 2650 billion euros).
Cook has previously indicated that he wants to donate most of his wealth to charity. The 61-year-old Apple CEO is reportedly already working on it.