Technology giant Apple has disclosed the earnings of its CEO, Tim Cook, and other employees for the year 2023. While Cook's income showed a slight decline compared to the previous year, this dip did not alter the fact that Cook still earned a substantial amount. Dive into the details of Tim Cook's 2023 earnings and the notable aspects of Apple's compensation disclosures below.
While Cook earned a substantial $99.3 million in 2022, his earnings reportedly decreased to $63.2 million in 2023. Apple had aimed for a $49 million compensation for Cook during the year.
Cook, who surpassed the targeted amount by 28%, broke down his 2023 earnings as follows:
Salary: $3 million
Stock awards: $46,970,283
Non-equity incentive plan compensation: $10,713,450
Other gains: $2,526,112
Apple disclosed that the average annual salary for its employees was $94,118. This translates to approximately $7,840 per month for an Apple employee. However, compared to the salaries of top-level executives, employee salaries are considerably lower.
For instance:
Chief Operating Officer (COO) Jeff Williams has an annual income of $26,961,226.
General Counsel Kate Adams earns $26,941,705 annually.
Senior Vice President of Retail, Deirdre O'Brien, receives an annual salary of $26,937,010.
Chief Financial Officer (CFO) Luca Maestri's annual income is $26,935,883.