Tim Cook stalks Elon Musk over his Fortune 500 salary

the Apple CEO, Tim Cook, was the second highest paid CEO of any Fortune 500 company in 2021, trailing Tesla’s Elon Musk in earning $770 million. At the head of one of the largest technology companies in the world, it is expected that Tim Cook receives considerable compensation for his leadership. In the analysis of the highest paid CEOs, it seems that Cook is almost at the top of the list.

In a list created by Fortune comparing CEO compensation across the Fortune 500, Cook was in second place, earning a total of $770.5 million in 2021. However, the report admits that this is not a figure from a base salarybut rather a portion of a 10-year equity grant worth $1.7 billion.

Cook receives a more typical annual compensation from the company, as well as other benefits. In 2021, he received $82 million in additional sharesas well as about $630,000 for personal security costs and $712,488 for the use of a private jetalong with a base salary.

tim cook

In March, as critics urged shareholders to vote against a compensation package of $99 million for Cook, investors voted in favor of this measure. Fortune says Cook’s earnings for 2021 are justifiable due to the Apple stock performancewhich succeeded in reaching $95 billion profits by the end of the year.

In his calculations, Fortune took salary and bonuses into account, “ other compensation such as vested restricted stock awards, long-term incentive awards and benefits, and equity gains in the form of the value realized upon the exercise of stock options. » Unexercised options have not been taken into account due to the unpredictability of their value.

Cook is trailing behind the CEO of Space X and Tesla, Elon Muskwho received compensation of $23.5 billion in 2021 by exercising Tesla stock options granted in 2018. In third place is Jensen Huang of Nvidia with $561 millionwhile Reed Hastings from Netflix has $453.5 million.

The report also revealed that the median total compensation of 280 CEOs Fortune 500 that he assessed was $15.9 millionup 30% year-on-year.

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