What you need to know
- Tim Cook ranks 171st in CEO pay within the S&P 500.
- New figures from WSJ show he earns just over the median $13.4 million of S&P 500 CEOs.
- Cook, like Steve Jobs before him, receives most of his compensation from Apple in the form of shares.
Apple CEO Tim Cook has ranked 171st in a list of S&P 500 CEO salaries, despite the fact Apple is the most valuable company within the group.
As the report notes "Most CEO compensation packages are predominantly restricted stock or stock options, as boards continue to emphasize pay structures intended to tie executive pay to the fortunes of shareholders generally." Tim Cook is no different, and in August of 2020 is was reported that his net worth had surpassed $1 billion thanks to awards of hundreds of thousands of Apple shares. Cook was awarded a package in 2011, the final wave of which will vest on August 24 of this year to the tune of another 700,000 shares. He was also awarded another round of stocks worth up to $114 million that will vest in 2023 and then 2025.
In a statement regarding Cook's tenure at the company, Apple's board of directors last year stated:
Apple's share price has increased by a whopping 109% in the last year thanks to the success of devices like the iPhone 12, Apple's best iPhone in several years.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9