Tim Cook made nearly $15 million in 2020. His $14.8 million haul was 28% better than the $11.6 he made in 2019.
Cook’s annual salary remained $3 million per year. His increases in non-equity incentive plan compensation and catch-all category “All Other Compensation” led to the increase.
In non-equity incentive plan compensation, Cook’s take jumped from about $7.7 million in 2019 to $10.7 million in 2020. The “all other” change was a relatively nonmaterial few hundred-thousand bucks.
Cook is actually the lowest paid of the top execs at Apple, which is not new. CFO Luca Maestri, COO Jeff Williams and SVPs Kate Adams and Deirdre O’Brien all made north of $26 million in 2020.
Your iPhone 12 Pro Max upgrade at work, ladies and gentlemen.
Don’t feel badly for Cook. Much of his fortune is just tied up in Apple stock. Along with Arthur Levinson and Al Gore, Cook is one of the largest individual shareholders in Apple.
Apple’s net sales rose 6% year over year to $274.5 billion in 2020. It’s operating income increased 4% to $66.3 billion.
Apple stock (AAPL) closed Tuesday at $131.01 per share. The company’s current market cap is a whopping $2.23 trillion (yes, with a “tr”) dollars.
In addition to its popular products like the iPhone, iPad and MacBook laptop series, Apple is also home to streaming service Apple TV+.