Tim Cook takes a massive pay cut

Hanno Labuschagne

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Tim Cook takes a massive pay cut

Apple Inc. is cutting chief executive officer Tim Cook’s compensation by more than 40% to $49 million (R820.44 million) in 2023, citing investor guidance and a request from Cook himself to adjust his pay.

As part of the changes, the percentage of stock units awarded to Cook and tied to Apple’s performance will increase to 75% in 2023 from 50%, as well as in future years, the company said in a regulatory filing Thursday.

[Bloomberg]
 
imagine getting your salary cut by 40% and still being able to buy a fancy yacht every year.
if i got a 40% pay cut, i'd probably have to live in a tent.
 
imagine getting your salary cut by 40% and still being able to buy a fancy yacht every year.
if i got a 40% pay cut, i'd probably have to live in a tent.

Oh he'll be able to buy more than a few luxury yachts every year.

Yes his "base" salary has been cut down heavily, but if Apple performs well he will end up making WAY more money in stock.
 
What a good deal for him. Those extra shares may be worth a ton more than the 40% cut he's taking.

Although, I do question the incentives. There has been many instances of CEOs pumping short term value over the long term sustainability of a business.
 
imagine getting your salary cut by 40% and still being able to buy a fancy yacht every year.
if i got a 40% pay cut, i'd probably have to live in a tent.
I was just thinking about how many problems we could solve here with his annual salary.

I mean, Nkandla only cost about R150 mil in the end.
 
Shame, only $49M. How is the poor man going to live. Better start standing at the traffic lights.
 
Oh he'll be able to buy more than a few luxury yachts every year.

Yes his "base" salary has been cut down heavily, but if Apple performs well he will end up making WAY more money in stock.
Stock is always a second class citizen to cash. It’s like his money is on a roulette table for a few years before he can access it.
 
Shame, how is this poor ballsack going to survive?
 
Maybe they should all take a pay cut and use the money to improve the lives of the poors working the cobalt mines in the Congo.
 
Stock is always a second class citizen to cash. It’s like his money is on a roulette table for a few years before he can access it.
Absolutely no question, but he will ultimately (should Apple not stumble and fall) make way more money.
 
Absolutely no question, but he will ultimately (should Apple not stumble and fall) make way more money.
More money than before? He’s also getting less stock than the year before. Or do you mean, just relative to the $49m he has been granted?
 
More money than before? He’s also getting less stock than the year before. Or do you mean, just relative to the $49m he has been granted?

Just relative to the $49m....

But it is of course still a gamble on his part, but I reckon he's more than wealthy enough to take that gamble now
 
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