By Jennifer Korn
Tim Cook had a very good year.
Apple’s CEO received nearly $100 million in total compensation in 2021, a sixfold increase from the prior year, according to a proxy statement filed by the company on Thursday.
Cook’s $98.7 million pay package was largely made up of roughly $82 million in stock awards. Beyond that, Cook also received a $3 million base salary, $12 million in bonuses, as well as the company spending on things like private jets and security.
His total compensation is 1,447 times the median Apple employee salary of $68,254, according to the filing. Apple said this number is based on a new calculation for median employee pay.
The spike in Cook’s compensation came as Apple’s business was booming. It posted record profit and sales in 2021, fueled by strength from its core iPhone business and its subscription services. This week, Apple became the the world’s first $3 trillion company.
Last year marked a decade since Cook took on the role of CEO from Apple’s late cofounder Steve Jobs. Cook’s time in the top spot at Apple made him a billionaire. He has previously pledged to give all of his wealth away, after paying for his nephew’s college tuition.
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