November 27, 2022

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Earned 1,400 times more than employees - E24

Earned 1,400 times more than employees – E24

The head of mobile phone maker Apple earned more than 1,400 times the average salary among the company’s employees last year.

Apple CEO, Tim Cook.

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Apple CEO Tim Cook earned a solid salary jump to $98.73 million (885 million kronor) last year, up from $14.8 million the year before, according to Information The company was sent to the US authorities.

This is more than 1,447 times the average salary at the company, mainly due to the shares allocated by Cook. Reuters. The average salary level among Apple employees was $68,254 (just over 600,000 kronor) in 2021, according to the news agency. This is up from $57,783 in the previous year.

Last year, Apple’s CEO received shares for the first time after taking over as CEO from founder Steve Jobs in 2011, the company wrote. Cook acquired 333,987 contingent shares (RSUs) in September and will be able to acquire additional contingent shares in 2023, according to Reuters.

This is how Cook’s pay will be distributed in 2021, according to CNBC:

  • $3 million in salary
  • $12 million reward for achieving financial and sustainability goals
  • $1.39 million in other compensation, including $712,488 for flights, $630,630 for security measures, $17,400 for retirement ($401,000), $2,964 for life insurance premiums, and $23,077 for vacation pay
  • $82.35 million through stock allocations

It reached 3000 billion dollars

According to Reuters, Apple shares have risen more than 1,000 percent since Cook took over as CEO in 2011.

The company is the largest in the United States by market capitalization, and it recently made a short company worth $3,000 billion.

Apple describes its 2021 result as “fantastic,” with sales of $365.8 billion, up 33 percent from the previous year. Operating income rose 64 percent to $108.9 billion.

The company has also achieved its goals related to, among other things, diversity and education related initiatives. The company says it has also taken new steps toward achieving the goal of becoming carbon neutral throughout the value chain and the entire product life by 2030.

Cook previously told Fortune that he plans to to donate Most of his fortune, which is probably around $800 million, is for charity.

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