Apple, the largest company in the world, has always managed to be on the agenda with the salaries it pays to its employees. Alright Apple CEO Tim Cook salary how much? According to a new file leaked from within the company, Tim Cook’s expenses were reduced by around 40 percent. Even the reduced figure means $49 million in expenses for Apple.
Apple CEO expenses cut 40 percent, drop to $49 million
Apple is taking a significant salary cut in 2023 for its chief executive. More than 40 percent discount was applied to Tim Cook’s expenses compared to the previous year. New Year’s file, Cook’s $3 million salaryrevealed that it will receive $6 million in cash incentives and $40 million in stock rewards.
The Apple executive’s expenses are partially based on Cook’s advice. However, the feedback from the shareholders, the performance of the company and the recommendations of the sub-managers were also taken into account. The dossier stated that “Cook’s outstanding leadership and unprecedented value to shareholders will be greatly appreciated”.
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Tim Cook’s salary has remained at $3 million over the past three years, but his expenses, which include stock awards, have increased. This figure has jumped from $14.8 million in 2020 to $98.7 million in 2021 and $99.4 million in 2022.
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The CEO of Amazon was among the most unsuccessful company executives of 2022, shared by The Guardian. So much so that Jeff Bezos, who was seen as an unsuccessful manager because he fired more than ten thousand people in the e-commerce giant, tried to change his image by doing philanthropy.
Elon Musk, who bought Twitter for $ 44 billion in the past months, has made many controversial decisions since he took over the company. So a few of them; The platform’s employees worked more, beds were placed in the company building, and it brought the obligation to work in the office.