Apple CEO 'pocketed' nearly 75 million USD in 2024

According to TechSpot , despite keeping his base salary at $3 million for the third consecutive year, Apple CEO Tim Cook still recorded a significant increase in total compensation in fiscal year 2024, reaching $74.6 million. This figure is up 18% compared to 2023, mainly thanks to a stock award worth $58.1 million.

Apple CEO has total income of nearly 75 million USD in 2024

PHOTO: TECHSPOT SCREENSHOT

Apple CEO 'reaps big' in 2024

According to a proxy statement released by Apple, the increase in Tim Cook's stock award value is to ensure his salary is commensurate with his fellow CEOs at other leading technology companies.

Despite running Apple - the world's most valuable company with a market capitalization of $3.58 trillion, Tim Cook is still not the highest-paid CEO. That position belongs to Jon Winkelried, CEO of alternative asset management firm TPG, with a salary of $198.7 million.

In fiscal 2024, Apple recorded a 2% increase in revenue to $391 billion, while net income fell 3% to $93.7 billion. Revenue from the services segment reached a record $96.1 billion, a strong growth compared to the previous year. iPhone sales also increased 2% to $201.18 billion.

Apple's report also revealed the salaries of other senior executives. Former CFO Luca Maestri, General Counsel Kate Adams and Senior Vice President Deirdre O'Brien all received $27.1 million. Meanwhile, COO Jeff Williams saw a slight increase in salary to $27.1 million.

Tim Cook became a billionaire in 2020 and is now worth about $2.3 billion, mostly from his stake in Apple. Since he took over as CEO in 2011, Apple's market capitalization has increased tenfold, from $348 billion to $3.58 trillion.

Source: https://thanhnien.vn/ceo-apple-bo-tui-gan-75-trieu-usd-trong-nam-2024-185250114093629762.htm