Tim Cook earns $63.21 million as total salary in 2023, drops by $36 million (2024)

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Tim Cook earns $63.21 million as total salary in 2023, drops by $36 million? ›

Apple chief executive officer Tim Cook earned $63.21 million as compensation in 2023, which is less than what he got in 2022, the iPhone maker stated in its proxy filing with the US Securities Exchange Commission.

According to a proxy statement filed by Apple, Cook received a total compensation of $63.2 million in 2023.

Breaking down the components of Cook's compensation, the filing discloses that his salary remained consistent at $3 million, the same as in 2022 and 2021.

Since 2011 when he took over Apple, to 2020, Cook doubled the company's revenue and profit, and the company's market value increased from $348 billion to $1.9 trillion. Cook is also on the boards of directors of Nike, Inc. and the National Football Foundation; he is a trustee of Duke University, his alma mater.

Business strategy

Elon Musk has emerged as the highest-paid executive in terms of yearly bonus, with an average payout that is hundreds of millions of dollars above the rest, according to a new report.

On paper, Mark Zuckerberg is Meta's lowest-paid employee, with a $1 salary and no bonus. Mark Zuckerberg is Meta's lowest-paid employee—at least on paper. The tech entrepreneur's base salary for 2023 was a humble $1, while the median worker at the tech giant took home a staggering $379,000.

Cook, on the other hand, owns only about 837,374 shares, or 0.021% of Apple. If Cook owned 13% of Apple (the approximate ownership percentages Musk and Bezos have in Tesla and Amazon), his net worth would be over $331.5 billion, which would make him the wealthiest person in the world.

He spends the first hour of his day reading user comments about Apple products, which he believes is crucial for focusing on the external factors important to the company. Cook manages to get around 7 hours of sleep every night, going to bed at about 9:30 PM.

Find a (lucrative) passion project

Tim Cook is currently worth $2.1 billion, according to Forbes. But what netted him all that wealth had nothing to do with money. “Don't work for money, it will wear out fast, or never be enough,” he advised students at the University of Glasgow in 2017.

What does Tim Cook spend his money on? ›

Tim Cook income and spending

Cook has spent some of his fortune on real estate. His primary residence is a 2,400-square-foot house in Palo Alto, California. He also owns a sprawling mansion in La Quinta, California, for which he paid around $10 million in 2021.

You would think that having one of the highest positions in the big tech world would make you one of the wealthiest people in the world but Tim Cook doesn't operate like that. Despite not even making the thousandth wealthiest person in the world, Forbes estimates he is worth a reported $2.5 billion.

According to the latest TipRanks data, approximately 51.62% of Apple (AAPL) stock is held by retail investors. Who owns the most shares of Apple (AAPL)? Vanguard owns the most shares of Apple (AAPL).

Lisa Su, CEO and chair of the board of chipmaker Advanced Micro Devices, was the highest paid female CEO in the AP survey for the fifth year in a row in fiscal 2023, bringing in total compensation worth $30.3 million — flat with her compensation package a year earlier.

Google. Google is renowned as one of the highest-paying IT companies in India and globally. The company is known for its exceptional employee treatment and unique benefits.

2.1 billion USD (2024)

Tim Cook / Net worth

Amazon CEO pay: Andrew Jassy's compensation plunges from $212 million to $1.3 million. Amazon.com CEO Andrew Jassy's 2022 pay plunged to $1.3 million, a sharp drop from his compensation package of $212 million in the prior year.

As most investors know, Apple has been a big winner in the Cook era. As you can see, the stock has outperformed the S&P 500 by a wide margin since Cook took over in Aug. 2011 -- up 1,270% (or 1,530% on a total return basis).

According to a proxy statement filing before the Securities Exchange Commission in 2023, Microsoft had said that Nadella received a total annual compensation of $48,512,537, less than the 2022 salary of around $55 million.