In addition to other significant rewards, Cook received just almost $83 million in 2022 from stock awards, $12 million in incentives, and a $3 million salary. Tim Cook, the CEO of Apple, received a salary last year that most people will never see: $99.4 million. However, in response to shareholder input, the billionaire has decided to take a wage cut this year, according to CNN Business.
According to the site, the tech firm is lowering Cook’s planned pay package to $49 million, which is 40% less than it was in 2022, due to the uncertain status of the industry and Apple’s own falling shares. According to CNBC, Cook received amenities like retirement plan contributions, security, personal jet travel, and more than $46,000 in vacation cash-out in addition to just under $83 million in stock awards, $12 million in incentives, and a $3 million salary in 2022
. According to Apple’s annual proxy statement, which was made public on Thursday, “the compensation committee balanced shareholder criticism, Apple’s extraordinary performance, and a proposal from Mr. Cook to adjust his compensation in light of the feedback received.”
According to the corporation, Cook’s base pay will stay at $3 million in 2023, and the CEO will also get a $6 million bonus. Tim Cook hinted at Apple’s plans for the metaverse and said the company is investing in the potential it sees there. Over the past year, Apple Inc. has decreased by almost 40%.