Apple designs and creates iPod and iTunes, Mac laptop and desktop computers, the OS X operating system, and the revolutionary iPhone and iPad.
Apple’s CEO Makes $378 Million In Salary
While Facebook’s CEO, Mark Zuckerberg is doing a bit of tax avoidance with his $1 salary, his counterpart at Apple, Tim Cook is going to the other extreme.
Cook is reported to be earning over $378 million in salary—though a few commentators have said that you “can’t call it pay”. The reason they are saying this is because most of that $378 million compensation comes in the form of stock options. Apple is reported to have given Cook over 1 million Apple stock, most of which cannot be sold before 2016.
This sort of compensation package isn’t new of course, and many companies in America and Europe reward their CEOs with massive incentives which sometimes mask themselves as pay.
In terms of actual pay (cash for working during the year), Cook made just over $900,000. Not a massive amount for sure, but enough to keep him up their as one of the top ranking CEOs in terms of pay.
Apple can also afford to create an incentive package like that offered to Cook. The company has you may already know is sitting around $100 billion cash from its years of successfully selling the iPhone and now the iPad. Cook of course will have to stay at Apple and grow the value of the stock in order to see the full benefits of the ‘pay’ package.