Apple CEO Tim Cook received a pay raise in the technology company’s latest fiscal year.
In the financial year 2024, Tim Cook’s total remuneration package amounted to approximately $74.6 million, as reported in a document submitted to the Securities and Exchange Commission. This was a significant increase from his total pay of $63.2 million in fiscal 2023 and $99.4 million in the year before that.
Last financial year, I pocketed a steady base pay of $3 million, just like the years before, and an additional $58 million in stock rewards.
For fiscal year 2024, his remuneration consisted of $12 million in non-stock based rewards and an additional $1.52 million in other forms of payment.
In contrast to my fiscal year 2023 earnings, where I received a total of approximately $60.1 million – broken down into $46.9 million from stock awards, an additional $10.7 million from non-equity compensation, and $2.5 million in other compensations – this current year’s earnings will be significantly less.
Apart from tracking iPhone sales closely on Wall Street, investors also focus on crucial earnings stemming from Apple’s services such as Apple TV+, Apple Music, and iCloud. Moreover, Apple is working on creating a powerful artificial intelligence system, known as Apple Intelligence, to enhance its iPhone and Mac product line.
In October 2024, Apple announced that its services sector had reached a record-breaking revenue of $24.97 billion during its final quarter, marking a new peak for the company.
In Apple’s SEC filing last Friday, Chief Financial Officer Luca Maestri and Chief Operating Officer Jeff Williams both received increased compensation packages for the fiscal year 2024. Luca Maestri’s total pay package amounted to $27.1 million, compared to $26.9 million in the previous year. Similarly, Jeff Williams’ 2024 compensation package also rose slightly to $27.1 million, compared to $26.9 million in the preceding year.
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2025-01-11 01:25