Apple CEO Tim Cook's total compensation for 2023 was $63,209,845. This figure surpasses the initial $49 million target by 28%. A significant portion of this compensation comes from stock awards, while his base salary is reported to be around $3 million. It's important to note that his compensation has varied year-to-year, with a planned 40% reduction mentioned in some reports from prior years.
Breakdown of Tim Cook's 2023 Compensation:
- Base Salary: Approximately $3,000,000
- Stock Awards: Approximately $47,000,000 (this is an approximation based on reported figures)
- Other Compensation: The remaining portion of his $63,209,845 total compensation. Specific details about this portion are not consistently reported across all sources.
Important Considerations:
- Stock Awards: A large portion of Tim Cook's compensation is tied to Apple's stock performance. This means his actual earnings can fluctuate based on the company's success.
- Pay Ratio: The pay ratio between Tim Cook and the median Apple employee is a significant 672 to 1. This highlights the considerable difference in compensation between the CEO and the average worker at Apple.
- Prior Year Comparisons: Previous reports indicate Tim Cook’s compensation was significantly higher in earlier years, exceeding $99 million in some cases. His 2023 compensation represents a decrease compared to these previous years, aligning with announcements of a planned reduction.
Sources:
The information presented here is compiled from various sources including news articles and financial reports which reported on his compensation package for 2023. These sources cite varying figures for specific components of his compensation package, and this summary presents the most commonly reported figures. Discrepancies between sources may exist due to different reporting practices or the complexities of executive compensation packages which may include multiple forms of compensation.
