CEO of Apple Tim Cook received $74.6 million in total compensation in 2024, according to a report from THE Wall Street Journaland 18% more in 2024 than in 2023.
The increase is attributable to higher gains in stock awards and non-equity incentive compensation: $58.1 million in stock awards, $12 million in non-equity incentive compensation and $1.5 million in other compensation in 2024 compared to $47 million in stock awards, $10.7 million in non-equity incentive compensation and $2.5 million in other compensation in 2023.
His base salary has remained steady at $3 million for the past three years.
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In 2024, Cook was Fifth highest paid CEO in the United States. The highest paid is Jon Winkelried, CEO of asset manager TPG, with compensation of $198.7 million, followed by Hock E. Tan of Broadcom, with $161 million in compensation, and David Zaslav of Warner Bros. with $146.6 million.
Apple is the largest company in the world at the time of writing, with one market cap over 3.4 trillion dollars.
Tim Cook. Photo by Chris Jackson/Getty Images
Cook also made the list of highest-paid CEOs in 2023, according to a STUDY published in June by the Associated Press. The study compared CEO compensation to the earnings of mid-level employees and found that the midpoint compensation package for CEOs in 2023 was $16.3 million, or almost 200 times more than a midpoint employee of the company's salary hierarchy.
The study found that, in 2023, Cook earned 672 times more than the average employee at Apple. Cook was the third-highest paid CEO in 2023, behind Broadcom's Hock E. Tan and Fair Issac's William J. Lansing.
Cook's total compensation was $63.2 million in 2023 and $99.4 million in 2022.
Cook took a 40% pay cut in 2023, in part due to he had recommended the reduction his payment following a shareholder vote on executive compensation.
The percentage of Apple shareholders who supported executive pay fell from 94.9% at Apple's 2021 annual shareholder meeting to 64% at the same meeting in 2022.
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