Apple is one of the biggest companies in the world. Yet, its CEO Tim Cook is not amongst the highest-paid top executives in the world. According to a report by The Wall Street Journal (WSJ), Cook’s annual salary in 2020 was about $14.7 million. The Wall Street Journal has published its rankings of highest paid CEOs at the Standard & Poor’s 500 index.
Cook’s annual salary puts him at number 171 on the list. Interestingly, Apple is the top most company on the S&P 500 index with a market value of over $2 trillion. Cook’s salary package was just slightly more than the average salary of top CEOs across the world. According to WSJ, across the S&P 500 index, the average CEO salary was around $13.4 million.
The Apple CEO’s salary grew by 28% in 2020, according to the report. Do note that salary is just a part of what Cook as he does get stock options being the CEO of Apple.
Last year, a report by Bloomberg had revealed that Cook had finally become a billionaire. The Bloomberg report stated that a huge chunk of Cook’s estimated wealth comes from “equity awards he’s received since joining Apple in 1998.”
When Cook took over as CEO of Apple in 2011, the company’s estimate market value was about $350 billion. According to Bloomberg, Cook owns more than 8.47 lakh shares of Apple, which are worth around $375 million. As per the calculations done by Bloomberg, Cook added another $650 million to his net worth by “proceeds from previous share sales, dividends and other compensation.”
Cook is one of those rare billionaires now who has made the cut without being a founder of the company that he currently heads.
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