Apple CEO Tim Cook received $74.6 million in overall compensation in 2024, according to a report from the Wall Street Journal, and 18% more in 2024 than he did in 2023.
The increase can be attributed to greater earnings in stock awards and non-equity incentive compensation: $58.1 million in stock awards, $12 million in non-equity incentive compensation, and $1.5 million in other compensation in 2024 compared to $47 million in stock awards, $10.7 million in non-equity incentive compensation, and $2.5 million in other compensation in 2023.
His base salary has remained steady at $3 million for the past three years.
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In 2024, Cook was the fifth highest-paid CEO in the United States. The highest paid is Jon Winkelried, CEO of asset manager TPG, with a compensation of $198.7 million, followed by Hock E. Tan of Broadcom, with $161 million in compensation, and David Zaslav of Warner Bros with $146.6 million.
Apple is the largest company in the world at the time of writing, with a market cap of over $3.4 trillion.
Tim Cook. Photo by Chris Jackson/Getty Images
Cook also made the list of highest-paid CEOs in 2023, according to a study released in June by the Associated Press. The study compared CEO compensation to the earnings of median-level employees and found that the midpoint compensation package for CEOs in 2023 was $16.3 million, or almost 200 times more than an employee at the midpoint of the company’s pay hierarchy.
The study found that, in 2023, Cook made 672 times more than the median employee at Apple. Cook was the third highest-paid CEO in 2023, after Broadcom’s Hock E. Tan and Fair Issac’s William J. Lansing.
Cook’s overall compensation was $63.2 million in 2023 and $99.4 million in 2022.
Cook took a 40% pay cut in 2023, partly because he had recommended reducing his pay following a shareholder vote about executive compensation.
The percentage of Apple shareholders who supported the pay of the company’s executives declined from 94.9% at Apple’s annual shareholder meeting in 2021 to 64% at the same meeting in 2022.
Related: What I Learned From Apple CEO Tim Cook and How It Changed How I Lead
