Apple CEO Tim Cook’s Salary Gets 18% Hike, Now He’s Earning…

Last update:January 11, 2025, 2:16 PM IST

In 2024, Tim Cook’s compensation was $74.6 million (Rs. 643 million) compared to $63.2 million (Rs. 544 million) the previous year.

Apple CEO Tim Cook’s compensation was $74.6 million (Rs 643 crore) in 2024 after receiving an 18% raise. (Photo credits: LinkedIn)

A month before its annual meeting, Apple Inc. announced that CEO Tim Cook’s compensation saw an 18% increase in 2024.

The company added that it does not support a shareholder measure and that the company’s diversity program should end.

Tim Cook’s salary rose to $74.6 million (Rs 643 crore) in 2024 from $63.2 million (Rs 544 crore) in 2023, Apple said in its annual proxy filing on Friday.

Time Cook’s salary structure has a base salary of $3 million, $58.1 million in stock awards and about $13.5 million in additional compensation. The increase is the result of an increase in the share award value.

There has been a significant increase in Cook’s salary from last year, however, it is far from his total compensation in 2022, which had become almost $100 million due to stock prices.

In 2023, Cook decided to take a pay cut after facing opposition from stakeholders and employees.

The company’s board of directors said it “made no changes to the amount or structure of Mr. Cook’s total target compensation for 2025.”

Apple prepares for annual meeting on February 25

The annual meeting will be held on February 25 at which investors will vote on executive compensation and four external proposals, which the company has opposed.

The company has been considering abolishing the program in the wake of Apple’s diversity, equity and inclusion (DEI) efforts, fearing that the former could discriminate against employees and lead to lawsuits.

Apple called the proposal an inappropriate attempt aimed at restricting the company’s business operations. They have said that it already has many regulatory and legal risks.

In 2024, other Apple executives, such as the chief retail officer, chief operating officer, former chief financial officer, and general counsel, earned more than $27 million, reflecting a slight pay increase from last year.

Former Apple CFO Luca Maestri was recently replaced by Kevan Parekh.

Location :

California, United States