Tim Cook takes home $125 million in Apple’s best year since 2009

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Tim Cook takes home $125 million for Apple’s best year since 2009
I imagine Tim Cook makes this face every time he checks his online banking statement.
Photo: Jim Merithew/Cult of Mac

Tim Cook earned $125 million in Apple’s fiscal 2019, according to Apple’s latest SEC regulatory filings. That works out at more than $342,000 a day, or $28,538 per hour for a 12-hour shift.

But while Cook’s pay packet puts him firmly in 0.001 percenter territory as far as earnings go, it’s not a record year for him. In fact, Cook took home $11 million less than he did in 2018.

As with many C-suite executives, Tim Cook’s $125 million earnings are only partly based on salary. In 2019, Cook got paid $3 million as his official Apple salary. He then received $7.7 million bonus, $884,466 in perks and additional compensation, and $113.5 million in vested Apple stock. He currently holds close to $400 million in stock that’s yet to vest. Most of these options were acquired as an equity award in 2011, when Cook took over the CEO role from Steve Jobs.

Apple spent $457,083 on security for Cook in 2019. It also spent $315,311 on personal air travel expenses, as he flew around the world on business for Apple.

Tim Cook’s $125 million year

Cook had a superb 2019 as far as Apple performance goes. Although things started on a bad note with Apple having to negatively revise its own earnings expectations, fortunes turned around from there. 2019 was AAPL’s best year in a decade, as share prices surged more than 80%.

Wedbush analyst Dan Ives described 2019 as an “historic” year for Apple, representing Cook’s “finest hour” as Apple CEO. That included leading Apple through the China growth struggles, settling the lawsuit with Qualcomm, acquiring Intel’s 5G modem business, and launching the iPhone 11.

Tim Cook has talked about how how plans to give away his fortune after paying his nephew’s college tuition fees.

Source: Bloomberg