Tim Cook, the current CEO of Apple, raised around USD 100 million in direct wages and compensation in the last year of 2022. More specifically, the executive earned 99.4 million euros, or roughly 91.63 million euros at the current conversion rate.
Apple's press release will be released later this week. It is important to note that the majority of the pie from Cook's monthly pay was not derived from dividends or shares held over the previous year.
Tim Cook raised 98.7 million dollars in 2021, an amount that will continue to grow in 2022.
Cook made roughly US$3 million in salary payments – the effective salary for 2022. However, his shares and other assets would be worth a total of US$83 million last year.
Add to the equation bonuses, compensations, and other tax adjustments that would bring Tim Cook an additional $13.4 million last year. In 2021, Tim Cook would earn $98.7 million.
According to Mark Gurman, Apple's CEO has reduced his salary by 40%.
Following shareholder feedback and a recommendation from Apple CEO Tim Cook, the pay drop will be increased by more than 40% in 2023. https://t.co/qTtGmiAYz7.
Mark Gurman (@markgurman) on January 12, 2023
Tim Cook's salary will be dramatically reduced by about 40% on his own request in 2023. This is based on shareholders' feedback and other findings from the company's investor meeting.
Cook will have taken the lead and requested a massive pay raise. Cook will also have to modify the values of remuneration payments and bonuses to which he will be entitled.
Cook may receive around US$49 million in 2023 as miscellaneous compensation, as well as reducing his salary by 40%.
Tim Cook will pay a 40% cut in 2023.
The above financial adjustments do not imply a discharge of Apple's accounts. One might assume the business is in a state of flux, but that is not the case, as Apple will continue to exceed expectations throughout 2022.
Indeed, the Cupertino behemoth, which has been guided and led by Tim Cook, has continued to grow as one of the world's most profitable businesses. Once again, sales of the Apple iPhone led revenue, with services also growing at a good pace.
Apple's next general meeting with investors will be held in March 2023. There, the technology will discuss the state of accounts, issues like inflation and the impact of the epidemic, as well as issues related to Ukraine's conflict, as well as the company's expectations for 2023.