Apple CEO earned over 1,400 times the average worker in 2021

Share Us

986
Apple CEO earned over 1,400 times the average worker in 2021
08 Jan 2022
7 min read

News Synopsis

According to a filing released recently, the total earnings of the CEO of Apple, Tim Cook was 1,447 times that of an average employee at the company. The company said that the total median pay for employees was $68,254 and that it had selected a new median employee for comparison due to the changes in hiring and compensation.

The company has received high benefits from the high demand for the products for the last two years. The revenue of the company rose over 30% to $365.82 billion in the fiscal year 2021. The company also became the first-ever company to cross $3 trillion in market capitalisation this year.

Tim Cook took over the position of CEO in Apple in August 2011 after the co-founder, Steve Jobs stepped down. The company’s stock surged more than 1,000 percent ever since the individual took charge of the company.

In September, Tim Cook receiver 333,987 restricted stock units, in his first stock grant as a part of a long term equity plan. The CEO of the company will also be eligible to have an additional unit from 2023. During an interview in 2015 with Fortune magazine, Tim Cook said that he plans to donate his wealth to charity.

You May Like

TWN In-Focus