Tim Cook earned nearly $15m in 2020
Apple CEO Tim Cook is one of the highest-paid company bosses in the world – no wonder, since Apple is the planet’s most valuable company. But even by his standards 2020 was a lucrative year, thanks to Apple’s success in the stock market.
Apple pays Cook a basic yearly salary of $3m, but this can be substantially bolstered with bonus payments if things go well. Things went very well in 2020, and according to the (German-language) stock exchange magazine Der Aktionär, Cook earned a total of around $14.8m in that year, having been rewarded with bonuses and inducements for achieving various goals. This is up 38% from 2019, when Cook earned a combined $10.7m across base salary and bonuses.
It’s worth pointing out, however, that Cook’s salary and bonuses are dwarfed in value by his stock options, which in 2019 were enough to push his take-home to a grand total of $134m. Cook holds several hundred million dollars in Apple shares, and the value of these rose by 81% in 2020.
Cook is reported to have become a billionaire last year. Even so, according to his loved ones, Cook maintains a simple lifestyle and plans to give away much of his fortune.
This article originally appeared on Macwelt. Translation by David Price.