Apple CEO Tim Cook's Compensation Last Year Was 200 Times Higher Than the Average Employee's Salary

$125 Million Last Year... $11 Million Decrease from Previous Year
Last Year’s Sales and Operating Profit Targets Not Met, Resulting in Decline
Apple Employees' Average Salary Last Year $57,596

[Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] Apple CEO Tim Cook received a compensation of $125 million (approximately 146 billion KRW) last year.

Bloomberg News reported on the 4th (local time), citing Apple's disclosure, that CEO Cook earned $11 million (approximately 1.3 billion KRW) less in the 2019 fiscal year compared to $136 million (approximately 159 billion KRW) the previous year.

Cook's compensation last year consisted of a salary of $3 million (approximately 350 million KRW), a bonus of $7.7 million (approximately 900 million KRW), and $113.5 million (132.5 billion KRW) in vested stock options from the company. This also included perks such as $457,000 (approximately 53 million KRW) spent by Apple for Cook's security and $315,000 (approximately 37 million KRW) for private jet-related expenses.

The decrease in Cook's compensation this year compared to the previous year was significantly influenced by a sharp reduction in his bonus, following a record-high bonus of $12 million (approximately 1.4 billion KRW) the year before. The bonus cut was due to Apple not meeting its sales and operating profit targets last year.

Meanwhile, the average compensation for Apple employees last year was $57,596 (approximately 67.24 million KRW), a slight increase from $55,426 (approximately 64.71 million KRW) the previous year.

Excluding stock options, Cook's compensation of $11.6 million (approximately 1.3543 billion KRW) last year was 201 times higher than the average compensation of Apple employees.

This content was produced with the assistance of AI translation services.