Apple is the strongest player in the smartphone market; and not only that, the company’s accounts are huge, the profits are steadily growing; and they are one of the most expensive in the world. The pinnacle of Apple’s financial fortunes will not be easy for others to climb. The company has a decent margin of safety and a huge army of fans.
Apple owes its success not least to Tim Cook, who can be safely called an effective manager who turned the company into a money-making machine. It makes sense, therefore, that Apple is generous with Tim Cook’s services. The CEO’s income for the past year was $ 98.7 million; in the form of base salary, shares and other compensation. By simple mathematical calculations, you can find out that Tim Cook received more than $ 270 thousand per day, and about $ 11 267 per hour (based on 24 hours).
At the same time, his annual salary remains unchanged – $ 3 million. The main income is due to the fact that he received Apple shares in the amount of $ 82,347,835. More than 5 million shares Tim Cook acquired himself and this brought him income in total $ 754 million; but this amount is not included in the income paid to him directly by the company.
How much Apple CEO Tim Cook earned in 2021
In addition to the actual salary and shares, Tim Cook received an award of $ 12 million and 1.4 million “other compensation”. Other compensation includes vacation pay $ 23,077, security costs 630,630 and personal air travel in the amount of $ 712,488. Tim Cook uses a private jet for air travel and this is a security requirement from Apple.
By comparison, Apple’s CEO revenue in 2020 was $ 14.8 million, and the surge in salary in 2021 is primarily due to the shareholding that Tim Cook received as a bonus last year. According to Forbes, Cook’s fortune is estimated at $ 1.5 billion, but that only puts him in the 2083rd place in the ranking of the richest people in the world.
By comparison, Facebook co-founder and Meta CEO Mark Zuckerberg is the sixth richest person in the world with an estimated net worth of $ 118 billion. Jeff Bezos, the founder of Amazon, is in third place in the list of moneybags with a fortune of $ 188.7 billion. The richest of all CEOs is Elon Musk, whose fortune is estimated at $ 264 billion.
It is worth mentioning that many analysts and market commentators expect Apple to finally launch the Apple Glass; its first augmented and virtual reality headset, in the course of 2022. Thanks to this new accessory, the Cupertino giant should generate significant profits around the world. Financial analysts even estimate that the AR headset will play a role of growth driver in the next 10 years; once the iPhone is discontinued.