Robert Besser
11 Jan 2022, 13:42 GMT+10
CUPERTINO, California: According to regulatory filings with the U.S. Securities and Exchange Commission (SEC), Tim Cook, Apple's chief executive, was paid nearly $100 million in 2021, a 570 percent increase from the previous year.
After taking over as chief executive from Apple founder Steve Jobs in 2011, Cook, 61, also gained access to share awards worth about $750 million, as the company's market value approached $3 trillion.
Cook's total compensation for the year to September 2021 was $98.7 million, up from $14.7 million the previous year, the filings showed.
The company said Cook's salary was 1,447 times the median salary of an average Apple employee at $68,254.
His pay in 2021 was also boosted by a $82.3 million stock award bonus related to Apple's soaring share price.
In addition to his base salary of $3 million, he also collected bonuses worth $12 million for meeting the company's financial and environmental sustainability targets.
The filings show Apple spent more than $700,000 on private flights for Cook, after it decided that his flying on scheduled commercial flights entailed too much of a security risk.
It also paid hundreds of thousands of dollars for personal security, pension contributions, life insurance and buying back unused holiday time.
In the filing, Apple said, "It has been a remarkable decade for Apple, and in 2021 Cook was granted an equity award for the first time since he was promoted to CEO in August 2011."
According to the Bloomberg Billionaires Index, Cook has a personal fortune of more than $1 billion.
In 2015, Cook told Fortune magazine that he planned to donate his entire wealth to charity, after providing for his then 10-year-old nephew's education.
Get a daily dose of Birmingham News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Birmingham News.
More InformationAs China unleashed live-fire military exercises off the coast of Taiwan, simulating a real "reunification by force" operation in the ...
NAYPYIDAW, Myanmar - According to a legal official, a court in Myanmar has sentenced former leader Aung San Suu Kyi ...
BEIJING, China: Following a meeting between their foreign ministers, China and Nepal have agreed to build the Trans-Himalayan Multi-Dimensional Connectivity ...
BEIJING, China: Several regions in China experienced temperatures exceeding 40 degrees Celsius, including the major southwestern city of Chongqing.The country's ...
SACRAMENTO, California: California Governor Gavin Newsom is proposing to give a $1.4 billion government loan to extend the life of ...
NEW DELHI, India: A government order released to reporters this week said New Delhi will continue to enforce a mask ...
LONDON, England: Reports from the UK's opposition Labour Party said its leader, KeirStarmer, will call for a freeze on energy ...
LONDON, England: The UK's Communication Workers Union said Post Office workers would hold a one-day strike, coinciding with a walkout ...
LONDON, England: England's healthcare problems continue to stack up, as the number of people awaiting routine hospital treatment has risen ...
LONDON, England: After a furious China extended its largest-ever military exercises to encircle Taiwan following U.S. House Speaker Nancy Pelosi's ...
LONDON, England: Local health authorities announced this week that following the discovery of the polio virus in the city's sewage ...
The value of food wasted could be more than €60 million, a farmers union warnsAround Pound 60 million ($75 million) ...