Apple has shared how much its top executives, including its CEO Tim Cook, earn.
Apple shared its annual proxy statement for investors and shares the earnings of its top executives as well as the average salary of Apple workers. For this reason, we can know how much Apple CEO Tim Cook earned in 2023. And it is a very good amount.
Tim Cook has made almost $100 million over the past two years, but In 2023, this amount has been significantly reduced. Apple says Tim Cook earned $63,209,845 in 2023, about 28% more than the $49 million compensation originally anticipated. Here is how Tim Cook’s salary is distributed:
- Salary: 3 million dollars
- Stock Grants: $46,970,283
- Remuneration linked to the non-share incentive plan: $10,713,450
- Any other compensation: $2,526,112
Tim Cook made significantly less money in 2023 than in the previous two years
Also in 2023, Apple claims to have spent $1,621,468 spent on private jet used by Tim Cook. Apple’s board of directors implemented a policy in 2017 requiring Cook to use a private jet for all business and personal travel for “safety and efficiency reasons.” And in 2023, those expenses doubled, so Cook traveled more. We must also add $820,309 in personal security for the CEO.
Besides the CEO’s data, Apple also shared the dream of its top executives
- Luca Maestri, financial director: $26,935,883
- Kate Adams, general counsel and secretary: $26,941,705
- Deirdre O’Brien, Senior Vice President of Retail: $26,937,010
- Jeff Williams, COO: $26,961,226
Apple also provided data on the average annual total compensation of its employees in 2023, which was $94,118. This is equivalent to a Tim Cook’s 672-to-1 wage ratio for the average Apple worker.
The total annual compensation of our CEO in 2023 was $63,209,845, the total annual compensation of our average paid employee in 2023 was $94,118 and the ratio of these amounts is 672 to 1. Therefore, this salary ratio reflects a reasonable estimate consistent with SEC rules based on the methodology we described above.
These are the numbers earned by the most important people at Apple. A few public figures so shareholders and the rest of the world know. Tim Cook isn’t one of the highest-paid CEOs, but we can’t say he earns little either.
