Steve Jobs' Salary Was $1, But What About Tim Cook?
Tim Cook's 2010 compensation package amounted to just under $60 million.
With news that Apple CEO Steve Jobs is stepping down, all eyes are on his replacement Tim Cook, who has promised staff that things won't change just because Steve is gone. However, one thing that is likely to change is the CEO's salary. While Steve Jobs has earned just $1 per year (don't worry, Mr Jobs has approximately 5.5 million Apple shares, he's not starving), Tim Cook's salary for 2010 was significantly more.
According to Forbes.com, Tim Cook's compensation for last year was a little over $59 million. His actual base salary was $800,016, but he received a $5,000,000 bonus, $52,334,250 in restricted stock awards, $58,306 that's marked under 'all other compensation,' and $900,000 via non-equity incentive plan compensation. All of this adds up to a grand total of $59,092,572. In January, AppleInsider reported that that $5 million bonus was a "special award" to recognize Cook's "outstanding performance" in overseeing the company's day-to-day operations during Jobs' 2009 medical leave of absence. He was also given 75,000 restricted shares of AAPL stock for his troubles.
It's not yet known how much Cook will receive for filling in for Steve Jobs during his most recent leave of absence. It's also not known if Cook will receive a salary bump now that he's the CEO. It's also not clear if Steve Jobs will receive a retirement package from Apple. The San Francisco Chronicle says Apple's financial statements give no indication of any severance package, pension or health plan for Steve.
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This is all wrong and makes me feel like I'm gonna spew. The greed of these CEOs and the likes are just what I thought Barrack Obama was gonna get rid of,but they're still here and getting richer by the day. Also think of all the scientists and others that do the hard research and testing first before the CEOs and their pretend to make the company big,but are just the good old boys that every one else knows.
Boycott Apple, Boycott Microsoft....that's what I say...they are hindering the progression of technology by their small minded 'sue' everyone who infringes upon our patents and we see as a threat attitude....
This is all wrong and makes me feel like I'm gonna spew. The greed of these CEOs and the likes are just what I thought Barrack Obama was gonna get rid of,but they're still here and getting richer by the day. Also think of all the scientists and others that do the hard research and testing first before the CEOs and their pretend to make the company big,but are just the good old boys that every one else knows.
There is nothing wrong with CEO's being paid what they are today - people with their talents are rare and valuable.
However, it can't be accepted that on the bottom of the scale working people can be poor. It doesn't matter how filthy rich a top manager gets, as long as poor children can go to a good school. And that's not the case in the US right now, unfortunately.