Apple CEO Tim Cook travels in private jets as Apple doesn’t allow its CEOs to travel via commercial flights due to security reasons. (Image Credit: Reuters)
In 2021, Cook earned a total of $98.7 million in base salary, stocks, and other compensation in 2021. That is roughly Rs 733 crores if converted into Indian Rupees!
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- Last Updated:January 07, 2022, 11:19 am IST
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Apple CEO Tim Cook is at the top of one of the biggest tech firms in the world. Naturally, how much money Cook makes is something of interest to many people across the world. In 2021, Cook earned a total of $98.7 million in base salary, stocks, and other compensation in 2021. That is roughly Rs 733 crores if converted into Indian Rupees! Tim Cook’s incentives as Apple CEO include things like security and private flights. Apple declared the CEOs pay package in its latest SEC filing.
The $98.7 million pay is significantly more than Cook’s roughly $14 million (roughly Rs 104 crores) pay in 2020. According to the SEC filing, Cook earned $3 million (roughly Rs 22.30 crores) in base salary, $12 million (roughly Rs 89.20 crores) for completing the company’s financial and environmental sustainability goals. Further, Cook received a compensation of $1.39 million (roughly Rs 10.33 crores) that includes $712,488 for private jet travels and $630,630 for security, $23,077 for vacations, and $17,400 contribution to his 401(k) plan. Cook also earned about $82.5 million (roughly Rs 613 crores) in stock awards. Apple says it does not let its CEOs fly in commercial planes for security reasons.
The filing also mentions that Apple has seen remarkable growth in 2021. The lockdown and COVID scare did not deter the company’s sales across the world. Apple reported a revenue growth of about 33 percent and $365 billion in sales. Apple recently became the first company ever to reach a $3 trillion valuation, making the company bigger than many countries’ whole economy. On the first day of trading in 2022, the Apple’s shares hit an intra-day record high of $182.88, putting Apple’s market value just above $3 trillion. The stock ended the session up 2.5% at $182.01, with Apple’s market capitalization at $2.99 trillion.
“It’s been a remarkable decade for Apple and in 2021 Mr Cook was granted an equity award for the first time since he was promoted to CEO in August 2011,” Apple was quoted as saying in the filing.
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