Apple paid Tim Cook almost $100m last year

Tim Cook dinner, the Apple boss, was paid shut to $100m (£74m) final calendar year, a massive increase on the prior twelve months, as the Apple iphone maker rocketed in the direction of a $three trillion valuation.

His full shell out for the calendar year to September twenty five was $98.7m, up from $14.7m, the Silicon Valley huge unveiled in a US submitting.

The rise was mostly down to an $82m share award Mr Cook dinner gained less than a shake-up of his shell out scheme.

Apple claimed the sum was a reflection of the company’s accomplishment less than his leadership: “The total recognises his remarkable leadership and is commensurate with the size, functionality, and profitability Apple has obtained in the course of his tenure.”

Mr Cook dinner celebrated a 10 years managing Apple final calendar year and the firm improved how he was paid just after the expiry of a 10-calendar year package awarded when he succeeded Steve Positions.

The bulk of Mr Cook’s compensation in excess of the past 10 years has been less than his 2011 shell out package, which associated him obtaining tranches of shares in excess of the study course of the pursuing 10 years.

He just lately cashed in these shares for $750m, a sum inflated by Apple’s remarkable share price tag rise less than his leadership.

His $98.7m shell out package final calendar year, by contrast, lined 2021 alone. He was paid a $3m income and the relaxation in cash incentives and benefits. The firm put in $712,488 on private flights, possessing considered it a security possibility for him to fly commercially in 2017.

Apple’s shares rose by 1,174pc in excess of Mr Cook’s initial 10 years in cost, in contrast to 363pc for the S&P five hundred.

The stock has because risen even further and, earlier this week, Apple became the initial firm to cross a $three trillion market place capitalisation.

Speculation about Apple’s succession preparing has intensified as Mr Cook dinner, sixty one, attained 10 years in cost.

He claimed final calendar year that he did not envision managing the firm for one more 10 years, but that there was not a day in sight for his departure.

His most probable successor is considered to be Apple’s main functioning officer Jeff Williams, who occupies the part Mr Cook dinner crammed less than Mr Positions.

Apple claimed Mr Cook’s shell out was 1,447 occasions that of the median Apple worker, paid $68,254. Most of its workers are in its retail retailers.