CEOs of big tech companies are among the highest paid people in the industry, taking home tens of millions of dollars a year in cash, stock, performance bonuses, and more. A month before Apple’s shareholder meeting, the company detailed Tim Cook’s 2024 earnings. .
According to Apple Annual Proxy Submission On Friday, Tim Cook earned $74.6 million in 2024, an 18 percent increase over his compensation last year. Back in 2023, Cook took home $63.2 million.
Going into more detail, the Apple CEO received a $3 million base salary and $58.1 million in stock. Cook also received a $12 million bonus. Another $1.5 million is spent on insurance premiums, security costs, 401(k) plans and airfare expenses.
While Tim Cook’s compensation in 2024 is 18 percent higher than last year, it is still lower than his 2022 salary package. Cook earned a staggering $99 million in 2022, setting an all-time record for a major tech CEO. Tim Cook is also hoping to receive his eye-watering salary this year, with Apple’s board of directors confirming that the company has “not made any changes to the amount or structure of Mr. Cook’s overall target compensation by 2025.”
Apple’s retail chief, former chief financial officer, chief operating officer and general counsel also earned $27.2 million in 2024 for their activities. contribution to the company.
Apple’s annual shareholder meeting, scheduled for February 25, will be a battleground. Shareholders have called for an end to Apple’s DEI programs, citing potential employee discrimination and legal consequences. However, Apple management strongly rejected the proposal, arguing that it would “limit Apple’s ability to manage its normal business operations, people and teams, and business strategies.”
With Donald Trump’s inauguration scheduled for January 20, some tech companies, including Meta and Amazon, have already begun scaling back their DEI programs.
By using: Bloomberg