Apple boss Tim Cook made nearly R1.9 billion in 2018, including a R166 million bonus
- Apple revealed that CEO Tim Cook was paid $15,682,219 in 2018 in an SEC filing. That is about R220 million
- That doesn't include $121 million in Apple stock that vested last year.
- The median Apple employee makes $55,426, around R770,000.
- Lots of Apple employees work in its retail stores and with AppleCare support and they factor into the median employee compensation calculation.
It's good to be Apple CEO Tim Cook.The leader of the iPhone giant made over $15 million in 2018, the equivalent of around R220 million, according to a new filing with the American SEC.
That includes a base salary of $3 million, $12 million in bonus incentives for hitting performance goals related to sales and operating income, and $294,082 to pay for Cook's private jet fare.
That's not including the massive stock incentives that Apple also provides to its chief executive as part of a 2011 grant. Cook cashed in $121 million of stock that vested earlier this year. That takes his annual take-home to more than $136 million – which is not much shy of R1.9 billion.
Cook still has over 1.5 million Apple shares that haven't vested, worth about $189 million at the current share price.
Apple also revealed on Tuesday how much money its median employee makes: $55,426, the equivalent of around R770,000. That means that of Apple's 132,000 total employees, half make less than that, and half make more. Lots of Apple employees work in its retail stores and with AppleCare and they factor into the median employee compensation.
For example, Facebook's median employee makes significantly more: Over $240,000 per year. But Facebook doesn't have retail or call centre workers.
Cook's compensation, not counting his restricted stock, is 283 times what the median Apple employee makes, according to the filing. Other Apple executives were also well-paid last year. CFO Luca Maestri, general counsel Kate Adams, retail head Angela Ahrendts, and COO Jeff Williams all made over $26 million each, around R360 million, according to the SEC filing.
"We believe the compensation paid to our named executive officers for 2018 appropriately reflects and rewards their contribution to our performance," Apple states in the filing.
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