Apple CEO Tim Cook made $63 million last year — here's how that breaks down (2024)

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Apple CEO Tim Cook made $63 million last year — here's how that breaks down? ›

His pay packet was made up of $46.9 million in stock awards and $10.7 million in non-equity incentive plan compensation. On top of that, he received $2.5 million in other compensation, which includes his security expenses and business and personal travel on a private jet.

Cook's annual compensation package hit $63.2 million after rising to $99.4 million during the 2022 fiscal year, according to a regulatory filing with the Securities and Exchange Commission. For the fiscal year ended Sept.

Tim Cook, CEO of Apple, the second most valuable US company, received a total compensation of $63.2 million in 2023. This is a significant decrease from $99.4 million in 2022. In 2021, Cook's annual compensation was $98.7 million.

After leaving Compaq to join Apple (AAPL) in 1998 at Jobs' request, Cook helped the founder pull the struggling company out of financial distress by improving its supply chain and manufacturing processes and reducing costs as senior vice president of operations and later COO.

As you can see, the stock has outperformed the S&P 500 by a wide margin since Cook took over in Aug. 2011 -- up 1,270% (or 1,530% on a total return basis). That means an investor who bought $10,000 of Apple stock at the start of Cook's tenure would have $163,000 today after enjoying a compound annual return of 25%.

Cook joined Apple in 1998, having worked briefly at PC-maker Compaq and for 12 years at IBM. Cook owns more than 3 million shares of Apple, less than a 1% stake; he's sold hundreds of millions of dollars' worth of shares over the years. Since 2005, he has also served on the board of Nike.

Apple CEO Tim Cook, who has been at the helm since just prior to founder Steve Jobs' death in 2011, squeezes onto Forbes' billionaires list with a net worth of $2 billion.

Walmart CEO Doug McMillon received $26.9 million in total compensation last fiscal year. The median compensation for Walmart employees was $27,642, per the company's annual proxy statement. Since 2009, McMillon has been paid $136 million for his work as a Walmart executive.

Walter Isaacson, in his biography of Jobs, described his modest living conditions in Palo Alto, emphasizing Jobs' preference for normalcy over luxury. From 1997 until his resignation in 2011, Jobs took a symbolic annual salary of $1 from Apple, a testament to his commitment to the company's revival and growth.

Who is the richest Apple employee? ›

Cook went on to say that although he was raised Baptist in Alabama with a strong tie to his faith, it never equated to "an excuse to discriminate."

Steve Jobs owned around 14% of apple right after Apple's IPO in 1980, but his ownership was quickly diluted to around 12% tanks to shares issued to employees. Steve Wonzniak owned after the IPO around 7%, later diluted to 6%. Jobs sold all of his shares in 1985 when he was ousted from Apple. He kept only one share.

He pushed for Apple to use renewable energy sources for its manufacturing processes and to reduce its carbon footprint. He also encouraged suppliers to use more recycled materials and to reduce their own environmental impact. Finally, Cook worked to improve working conditions in Apple's supply chain.

At the time of his death, they were valued at $2.2 billion. But Jobs' return was more than a homecoming; he was determined to make consumers “Think Different” through Apple's innovative products. Under his leadership, the company launched the iMac, iPod, iPhone and iPad.

While the iPhone remains Apple's flagship product, its success fostered the company to create a unique ecosystem encompassing hardware, software, and services that contributed to the company's 2023 revenue of over 383 billion U.S. dollars, making Apple the most valuable brand in the world.

From 1997 until his resignation in 2011, Jobs took a symbolic annual salary of $1 from Apple, a testament to his commitment to the company's revival and growth.

CEO Tim Cook will be staying at Apple for at least three more years, Bloomberg reported. Cook previously said he hopes his successor will be an internal hire. According to Bloomberg, execs Jeff Williams and John Ternus could be potential successors.

As President and Chief Executive Officer, Director at AMAZON COM INC, Andrew R. Jassy made $1,357,764 in total compensation. Of this total $365,000 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $992,764 came from other types of compensation.

Cook is unmarried and does not have any children.