Apple boss Tim Cook’s salary in 2021 is 1,447 times the salary of the average employee at the tech giant, a filing on Thursday showed, boosted by stock awards earned him a total of nearly $100 million (approximately 742.31 crore).
In 2021, the average salary for employees is $68,254 (about Rs 50.66 lakh), Apple said they chose a new average employee for comparison due to changes in hiring and compensation.
The average salary in 2020 is $57,783 (about Rs 42.89 lakh) And the payout ratio is 256 times Cook’s wage.
The Iphone Manufacturers have benefited from strong demand over the past two years as working-from-home consumers flock to upgrades. Apple’s revenue grew more than 30% to $365.82 billion (approximately Rs 27,15,521 crore) for fiscal 2021, and its stock quickly surpassed $3 trillion (about Rs 2,22,69,270 crore) ) market capitalization value this year.
Cook, whose salary remains at $3 million (about 22.26 crore), received $82.3 million (about 610.92 crore) in shares, $12 million (about 89.07 crore) ) for reaching Apple’s target and $1.4 million (approximately Rs. 10.39 crore) for air travel, 401(k) packages, insurance premiums and others.
In total, he earned $98.7 million (about Rs 732.65 crores), compared with $14.8 million (about Rs 109.86 crores) in 2020.
Cook took over in August 2011 after the company’s co-founder Steve Jobs resigned months before his death. Shares have risen more than 1,000% since Cook took over.
In September, Cook received 333,987 units of restricted stock, in his first grant since 2011 as part of a long-term share plan. He will be eligible to receive more units in 2023.
Cook told Fortune in 2015 that he plans to donate his fortune to charity.
A report by the Economic Policy Institute shows that CEOs in the United States will be paid 351 times more than the average worker in 2020, while the compensation of top CEOs will increase rapidly. about 60 times more than the stock market from 1978 to 2020, overshadowing the 18% sluggishness. the annual salary increase of a typical worker.
© Thomson Reuters 2021
Stay up to date with the latest from the Gadgets 360 Consumer Electronics Show, at CES 2022 center.
