The world’s largest technology companies have become a subject of curiosity with the multi-million dollar salaries they pay to their executives. One of the prominent names in this regard for years is Apple CEO Tim Cook. But according to the latest report, Cook’s income has declined.
Tim Cook income will be 63.2 million dollars
Tim Cook earned just $63.2 million in 2023, compared to the previous year’s pay of $99.4 million. The Apple CEO’s compensation varies depending on many factors. But the bulk of his pay package comes from stock awards, which account for $47 million of his earnings. However, this figure is much lower compared to the $83 million in stock awards in 2022.
Cook’s salary remained flat at $3 million. The CEO was also eligible for a $10.7 million performance-based bonus and $2.5 million in benefits.
On the other hand, names like Apple CFO Luca Maestri and other top executives Kate Adams, Deirdre O’Brien and Jeff Williams have also seen a drop in their income. Most of them received around $27 million in stock awards.
The decline in Cook’s compensation also reflected the declining value of equity awards compared to the previous year. But it’s important to remember that Apple achieved record iPhone sales in the last quarter of the year and achieved an all-time high in services revenue.
For the full fiscal year 2023, Apple generated $383 billion in revenue and $97 billion in net income. Although lower than its results in 2022, it is said to have been successful despite the worldwide economic downturn.
{{user}} {{datetime}}
{{text}}