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Apple CEO Tim Cook's income fell mainly due to the stock price decline. (Photo: The Hollywood Reporter)

Thus, within one year, the income of the head of Apple decreased by 36 million USD. The data was revealed in the company's filing with the US Securities and Exchange Commission on January 11.

Tim Cook's total compensation for fiscal 2023 includes a base salary of $3 million, stock awards worth $47 million, performance-based bonuses totaling $10.7 million, and an additional $2.5 million to cover expenses such as retirement contributions, term life insurance premiums, vacations, security costs, and private air travel.

The $36 million decrease was largely due to the decline in the value of his stock awards. In 2022, his shares were worth about $83 million. In 2021, his income was $98.7 million.

Other senior Apple executives — Luca Maestri, Kate Adams, Deirdre O'Brien and Jeff Williams — each received $27 million in stock awards.

In the most recent quarter ending September 30, 2023, Apple recorded $89.5 billion in revenue and $23 billion in net income. According to CEO Tim Cook, this was a record quarter of services revenue.

Also on January 11, Apple announced that former Vice Chairman Al Gore, who has served on the board since 2003, will retire after the upcoming shareholder meeting. Another director, James Bell, is also retiring. Apple added Wanda Austin, former CEO of The Aerospace, as a new board member.

(According to Digital Trends, The Hollywood Reporter)