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Tim Cook makes 1,447 times more than average Apple employee

by on10 January 2022

Nearly $100 million a year

Apple boss Tim Cook's pay in 2021 was 1,447 times that of the average employee at the tech giant, thanks mostly to stock awards that helped him earn a total of nearly $100 million.

In 2021, the median pay for employees was $68,254, Apple said, adding it had selected a new median employee for comparison due to changes in hiring and compensation.

The median pay in 2020 was $57,783. Normally CEOs in the United States are paid 351 times more than the typical worker.

Apple's revenue rose more than 30 per cent to $365.82 billion for its fiscal 2021 and its shares briefly crossed $3 trillion in market capitalisation this year.

Cook, whose salary remained at $3 million, received $82.3 million in stock awards, $12 million for hitting Apple's targets and $1.4 million for air travel, 401(k) plan, insurance premiums and others.

He earned $98.7 million, compared with $14.8 million in 2020.

In September, Cook received 333,987 restricted stock units, in his first stock grant since 2011 as part of a long-term equity plan. He will be eligible to receive additional units in 2023.

Cook told Fortune magazine in 2015 that he plans to donate his wealth to charity.

A report by the Economic Policy Institute showed, while the compensation of top CEOs grew roughly 60 per cent faster than the stock market from 1978 to 2020, eclipsing the slow 18 per cent growth in a typical worker's annual pay.

Last modified on 10 January 2022
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