2023-01-16
Apple’s compensation committee cuts Tim Cook’s compensation. In 2020
his earning was $14.7 million. He earned $98.8 million to 2021 and $99.4 in
2022. His 2023 compensation is expected to be $49 million.
Apple’s shareholders want to connect performance of stock price with
CEO’s compensation. Tim Cook’s base compensation remains the same. He will
receive $6 million annual bonuses and $3 million salary as usual. Cook agreed
and supported for the changes of his compensation.
Apple is still the largest company by market cap, it has the market
cap of $2.143 trillion. Cook’s net worth is $1.7 billion according to Forbes. He
has been serving as Apple’s CEO for 12 years since 2011. He owns about 3.3
million shares, worth $444 million. He sold millions of Apple’s shares over
years.
