Apple CEO Tim Cook’s pay soared nearly 30% last year to almost $15 million as the iPhone maker thrived amid the pandemic




Tim Cook wearing a suit and tie: Karl Mondon/Digital First Media/The Mercury News via Getty Images


© Karl Mondon/Digital First Media/The Mercury News via Getty Images
Karl Mondon/Digital First Media/The Mercury News via Getty Images

  • Apple CEO Tim Cook’s pay package totaled $14.7 million last year — around a 28% jump from 2019, the company disclosed in its annual proxy statement on Tuesday.
  • Cook’s compensation included a base salary of $3 million, $10.7 million in performance-based pay, and nearly $1 million in travel and security expenses.
  • Apple paid Cook 256 times as much as the company paid its median employee, who earned less than $58,000 — an increase from the 200 times the typical worker’s pay that he earned in 2019.
  • Apple’s top five executives’ earned a combined $120 million last year — a 12% bump from 2019 — as the company posted record earnings despite uncertainty around the COVID-19 pandemic.
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Apple CEO Tim Cook’s compensation increased by around 28% last year to $14,769,259, the company disclosed in its annual proxy statement on Tuesday. More specifically, that’s up from the $11,555,466 he saw in 2019. 

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Apple’s top five executives – Cook, CFO Luca Maestri, general counsel Kate Adams, retail chief Deirdre O’Brien, and COO Jeff Williams – were paid a combined $119.8 million, an average bump of around 13% from 2019.

Earlier this year, Cook achieved billionaire status, per a Bloomberg analysis, thanks to a mixture of his earnings and the value of the Apple stock he holds.

Cook’s pay bump follows a year in which Apple posted record earnings despite the impact of the COVID-19 pandemic, which forced the company to temporarily close retail stores around the world, disrupted supply chains, and ultimately delayed the launch of the iPhone 12.

Cook earned a $3 million base salary, which remained unchanged from previous years, as well as $10.7 million in incentive-based pay (out of the maximum $12 million he could have received). 

Apple also spent more than $1 million on other expenses related to Cook’s employment, mostly through approximately $470,000 in security costs and $430,000 in personal air travel expenses. In 2017, Apple’s board of directors adopted a policy requiring Cook to fly only…

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