Tim Cook Salary: The average salary of an Apple employee was $57,783 and Tim Cook’s salary was 256 times that number. In 2021, as the average number went up, Tim Cook’s salary went up many times.
New Delhi: Tim Cook, Apple Inc.’s boss, received a salary in 2021 that was 1,447 times the salary of an average Apple employee, a new report by Reuters said. The stock awards alone made him earn close to $100 million in the previous year. The median salary of Apple employees was $68,254 in 2021, the report added. In 2021, Cook earned $98.7 million as compared to $14.8 million in 2020.
In 2020, however, the difference was less stark. The average salary of an Apple employee was $57,783 and Tim Cook’s salary was 256 times that number. In 2021, as the average number went up, Tim Cook’s salary went up many times.
Stock Awards Make Up Majority Of Tim Cook’s Income
Out of his total income of $98.7 million, the salary was only $3 million, Reuters reported. The biggest chunk was the stock awards amounting to $82.3 million. He received an additional $12 million as an award for Apple meeting its targets and $1.4 million for air travel.
Cook received 3,33,987 stock units, in September 2021, as a part of Apple’s long-term equity plan. He will receive more units in 2023. However, talking to Fortune Magazine in 2015, Cook revealed that he plans to donate his wealth in future.
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Apple First Company To Hit $3 Trillion Market Cap
In early January 2022, Apple became the first company in the world to hit a $3 trillion market cap. Although, the stocks of the company fell as soon as it achieved the feat. Fuelled by the rising demand for Apple devices due to pandemic, the revenue of the company rose over 30 per cent in 2021. It reported a revenue of $365.82 billion, the report said.
Since Cook took over the charge of the company after Steve Jobs’s demise in 2011. Since then, the stocks of the company have surged more than 1,000 per cent.
