Apple CEO Tim Cook will this week collect the 10th and final tranche of the pay deal, worth some $750 million, that he received a decade ago after he became the company’s CEO.
Cook has been the chief executive officer of Apple Inc. since August 24, 2011. Cook previously served as the company’s chief operating officer under its co-founder Steve Jobs who passed away after a long battle with just six weeks later on October 5, 2011 after a long battle with pancreatic cancer.
Scott Carpenter for Bloomberg:
The haul consists of about 5 million shares worth roughly $750 million, according to calculations by Bloomberg News. Part of the payout is contingent on Apple’s stock return over the past three years surpassing at least two-thirds of companies in the S&P 500 — a threshold the iPhone maker cleared by a wide margin.
Apple’s soaring stock price has allowed Cook, 60, to collect top payouts year after year and made him a billionaire. He currently has a net worth of about $1.5 billion, according to the Bloomberg Billionaires Index.
The Apple executive said in 2015 that he plans to give most of his fortune away…
MacDailyNews Take: Nice work if you can get it!
For doing what?!…
Theft. This generate failed at business 101 concentrating all production in hostile communist hellholes. No us production of iPhones, not even 1%. Apple needs a chef, not a cook.
He’s a piece of crap and destroyed apples soul and users privacy. He’s worse than skulley. Total loser.
F cook.
Agreed…
And you are the worlds biggest tosser
“And you are the worlds biggest tosser” IDIOT
For being at the helm of a company that added over two trillion dollars of wealth to its shareholders. Before Apple, no company had ever topped one trillion in market value. The success of Apple is unprecedented, and while it is easy to dislike certain aspects, the achievement is monumental and one that very few people could ever oversee, like him or not.
Correct, but thank Jobs for handing Cook over 90% of what Apple sells today…
Well, it’s hard to say he didn’t earn it. Geez, what a ride the stock has been on the past 10 years. Nearly a 1200% gain. $1000 invested when Timo took the reigns is now worth over $12,000.00. That’s what we call a 100 bagger. Maybe we need to call it a 1000 bagger?
https://www.cnbc.com/2021/08/24/how-much-apple-stock-has-grown-since-tim-cook-became-ceo-in-2011.html
The same growth as GOOG and MSFT over that period. Both Pichai and Nadella have made substantially less than Cook for the same results. They should outsource the position to an Indian for cost savings. Cook is nothing special, radical leftist technocrats are a dime a dozen in the Valley.
It’s actually easy as hell to say he didn’t earn it, because he didn’t earn it. He’s drifting off the fumes and goodwill created by Steve Jobs.
What position could possibly be worth this? Maybe…if you just saved the earth from certain destruction from a rouge asteroid!
I didn’t realize some asteroids wore rouge.
They’re Martian…duh!
They won’t follow the narrative.
Wait, the TV was on in the background. Did someone just say Tim Cook deserved $750 million because of rude ass rhoids???
Or better yet, successfully withdraw from Afghanistan with zero deaths and no terrorist bombings…
Grow up. Totally irrelevant remark.
How so? Cook is out to change the world with green energy, right? That’s a drop of water in the ocean. Getting American citizens out of Afghanistan is far more pressing at the moment. Sorry, you’re right, Cook has no talent…
Cook manages the largest mkt cap co of the entire US market and, for The World…with 1 or 2 technical exceptions.
The salary for all big-company CEOs is mind boggling and seemingly disproportionate–at least for this mind–but honking on Cook for receiving such a wage, is curious. It seems personal (I’m NOT a fan of Cook and berate his SJW-ism often), but all things considered, he’s not involved in a wage heist.
It has more to do with our entire economy being structured on a hyper effect; having assets results in the appreciation/inflation of those assets. “Hyper” is key. Having wealth is ALWAYS required to obtaining more, but it’s accelerated with the current structure that’s been primarily built on the Fed’s decisions that result in asset inflation.
There are others, but that’s the real problem.
Tim hasn’t done anything illegal to receive such a wage, that you know of?
It’s “just” unfair?
Would you say no to such a grant given to you?
He’s going to give most of it away…but I digress…
How do you know? I’ve seen Cook spend Apple’s money on his favorite woke charities but not his own.
Look for Cook to create some foundation dubiously claimed to be some sort of charity. With it, he will control all that money tax-free ad infinitum.
Well heck now we know why he chased profits and stock growth at all cost. It’s such a shame that Apple maintained its 38% profit margin even if it meant doing business with an criminal state with widespread systematic slavery, forced work, ethic genocide and organ harvesting. Apple is the CCPs biggest partner. Apple’s obscene profit margins at any cost is so sad for this once great American company but now we know why.
“The haul consists of about 5 million shares worth roughly $750 million, according to calculations by Bloomberg News. Part of the payout is contingent on Apple’s stock return over the past three years surpassing at least two-thirds of companies in the S&P 500”
It’s not to late for Apple to change course and unplug from the CCP.
What other companies produce phones in the USA? None that I’m aware of. Where would Apple hire contractors that employ 2 million workers. How many of you would pay 5000 for an iPhone. Yes Apple hasn’t created new products. Never made theTV that Gene Munster touted as coming for 4 years. Smart enough to see no margin in such. So far has release an APPLE Car. Guess he didn’t want the 5 billion in write offs to do so. He did do Apple CarPlay which my son loves. He did bring chips in house and the PC market share is 20 pc. He also was smart enough to keep a lot of SJs leaders.
Yes, I truly respect genius qualities and abilities of Steve Jobs exhibited during his tenure. But I do not have to divinize him. Talking about his successor, it is still difficult for me to understand why Steve Jobs with his vision, his love for the company he created and nurtured, and his ability to see far ahead where things are going (an old Wayne Gretzky quote “I skate to where the puck is going to be, not where it has been.” that Jobs often quoted comes to my mind ) and all that, he appointed Cook as his successor. Tim Cook is everything Steve Jobs would have dismissed in nurturing, growing and taking Apple farther to where Jobs dreamed of and strived for. I am still convinced that Jobs wanted Cook to remain iCEO (interim CEO), and steady the course during possible turmoil after his passing away. I read a lot of reports and watched interviews regarding how much he appreciated Scott Forstall because Jobs saw his shadow and/or alter ego in Scott’s flare of imaginations, creative thought process and deep technological understanding. But what was the first thing Cook did? He fired Scott very quickly to preserve his position as Apple’s CEO (my speculation). He concocted the image of Scott being a difficult personality to manage. Really? My guess is that Cook created a confrontational atmosphere using “fresh-off-the-incarceration look” buddy Jony-the-Ive who constantly encroached into Scott’s territory (S/W design). Naturally, Scott, or anybody else in that situation, got mad.
I believe Cook is very ruthless when it comes to defending profit (good but at all cost approach), his reputation and HIS money. Sock split? Why was it done?
Anyway, Cook is lucky as most tech companies are enjoying profitable years. But everything Apple is doing now is essentially a follow-up of what Steve left, or follow others (HomePod for example?). No revolutionary products (H/W or S/W) or ideas that set Apple apart.
Let’s commend Cook’s accomplishment for a balance. He did steadied Apple after Job’s passing away and he was probably good at it. But he is NOT an “operations” manager and someone else is doing it. Cook’s entrusted mission is to lead and bring Apple to even more attractive and powerful company. He has thousands of extremely able staff and engineers under him. Use and manage them effectively and wisely. He does not have to predict the demise of Adobe Flash Player or CD player etc 10 years before it actually happened. Nobody expects Cook to be that capable. All you have to do is simply you “WOW” us in many ways. Am I asking you too much? Perhaps I am.
Anyway, congratulations Mr. Cook, for your personal fortunes.
Spot on Cook’s and Ive’s fear of creative genius Scott Forstall and got rid of the threat. He should be running Apple and Ive is gone. One down, one to go…
Question I’ve often asked, but assumed Steve’s inside knowledge prevailed,
“it is still difficult for me to understand why Steve Jobs with his vision, his love for the company he created and nurtured”_then chose Cook?
Steve seemed ok with “He’s not a product guy.” I wonder if he’d be proud to say that his choice has ended up being a “subscription guy?”
It bugs me to no end. Subscriptions are more “glom-on” business and have little/nothing to do with innovation. In fact, if the income is there, why stress about innovation?
No one deserves this type of payout for working at a public company. It’s obscene. It’s immoral. And it’s unnecessary. We need to (desperately) bring back the top marginal rates of the United States from the 1950s and 1960s (90% at one time, and then lowered to 70%) to stop corporations from creating a new class if Uber-wealthy and instead using profits to pay their workers middle-class wages and reinvest in the business. 50 years ago, the US had a vibrant middle class. Today, we’ve one of the most UNequal societies on the planet.
Of course, Cook isn’t the only one of the new class of robber barons (see also Bezos, Musk, Branson, Gates and Ballmer — plus thousands of hedge fund managers who gamble with other people’s money, but take a house’s cut on every throw), but his one of the most visible.
Shame on them all.
https://worldpopulationreview.com/country-rankings/wealth-inequality-by-country
Writerguy…I assume you’re talking tax per, “marginal rates? If so, I’d like to place a bet for $1k that you are a liberal? I say this because it’s 99% of a time that “confiscation to make it more fair” is advocated by the liberal.
Why not tax according to the actual need…which is inextricably linked to spending. Do you ever image the govt spending is out of control?
The comment per asset inflation above wouldn’t require confiscation, but un-tilting the Fed’s favoritism to those that already have assets. There are other material examples where taxation could be modified that rightfully limit/balance asset accrual that doesn’t translate into taxation via confiscation, or penalizing because the chasm is too great.
Are you a liberal…I’d like to send you $1000, if not.
[robber barons (see also Bezos, Musk, Branson, Gates and Ballmer]
Except Ballmer, everyone else mentioned here are all “founders” or “creators” of their ventures. I do not particularly like those people but they dreamed wild dreams and actually executed and materialized them. If Steve Jobs is alive today, I would suppose he won’t be personally liked as well. But innovative thinking usually comes from eccentric people. Square pegs grow from round holes.
Yep, CEOs aren’t meant to be friend-likable…their performance is the determination of success.
“President” could fit well there too. The last one would fit the bit esp well for some.
Nice work if you can do it!
Do any of you remember how much Apple’s inventory management improved after Tim came to Apple? He was great at matching demand and supply, and has continued to keep critical components available when other tech firms cannot get them. He is not a Jobs product genius, but he has helped to keep a great group of talent moving forward. The amount of money sounds exorbitant, but if he negotiated it ten years ago, why not?
.
I do not agree with all of his or Apple’s decisions, but I still choose Apple products and services because of their quality over the other guys.
To be fair to Tim Cook, yes, I understand that he was an expert on inventory control and supply chain management etc. But is it a CEO’s job? He was doing it under Steve Jobs. Is it worth the $750M? I don’t know.
I believe he is watching a timing of leaving the job. In his position, he must be able to predict fairly easily and early when Apple will begin its downturn. That’s when he leaves his job, maximizing his take from stock holding etc.
Being a well known (self proclaimed?) SJW and activist, perhaps he might create a “charity foundation” as another famous person did (and the person did admirable job for it), and contribute $500M into it? I understand he has no family to spend money for. Oops, I am feeling my tongue is beginning to twist and stuck in my cheek after so much praise of Mr. Cook 🙁