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Apple CEO Tim Cook dinner took dwelling $770.5 million final yr; one Fortune 500 CEO banked extra


Miami Warmth celebrity Jimmy Butler made $36 million in 2021 from basketball and that certain appears like some huge cash to receives a commission in a single yr. However Apple CEO Tim Cook dinner final yr banked greater than 20 occasions the quantity that Butler did. You would possibly assume that Cook dinner’s $770.5 million in deposits would make him the highest-paid CEO among the many executives operating Fortune 500 firms, however you would be improper.
We must always level out that almost all CEO pay is predicated on a mix of  annual wage and advantages equivalent to inventory choices and inventory grants. For instance, In line with Fortune, Elon Musk is essentially the most extremely compensated government amongst these operating Fortune 500 companies. Musk, the richest man on the earth with a internet price believed to be $218.1 billion, is the CEO of each vehicle firm Tesla and aerospace agency SpaceX and in 2021 he cashed in from a grant of Tesla inventory choices he was awarded in 2018.

Beneath Tim Cook dinner, Apple’s valuation has risen by greater than $2.2 trillion.

Musk took dwelling a exceptional $23.5 billion final yr though a lot of that got here from the train of some Tesla inventory choices. Behind Musk because the second highest-paid government within the Fortune 500 final yr was Tim Cook dinner. A lot of the $770.5 million that Cook dinner added to his vault got here from cashing in a few of a 10-year grant of Apple shares price a complete of $1.7 billion.

Fortune notes that Apple’s market worth has risen by $2.2 trillion since Cook dinner changed Steve Jobs following the latter’s demise in October 2011 from pancreatic most cancers. The journal talked about this as a option to validate Cook dinner’s big pay. The pondering is that if Cook dinner made $2.2 trillion for Apple stockholders, is not he entitled to an enormous paycheck for himself?

In third place, NVIDIA CEO Jensen Huang made “solely” $561 million in 2021. The corporate is taken into account a worldwide chief in AI software program and {hardware}. An organization spokesman stated that Huang “realized about $507 million from expiring choices that had been granted in 2011 and 2012, reflecting the roughly 60x enhance within the firm’s share worth over the [past] decade.”

The median paycheck for 280 Fortune 500 CEOs rose 30% in 2021

Subsequent on the checklist is Reed Hastings, the CEO of video streaming service Netflix. Hastings took in $453.5 million final yr in response to Fortune. Nonetheless, a Netflix spokesman would solely admit to the whole quantity of pay listed on the corporate’s proxy assertion filed with the federal government which included, “$650,000 in money and $39.7 million in inventory choices.” That’s nonetheless a load of cash however nowhere close to $453.5 million.

Skipping among the names on the checklist, the seventh most extremely paid CEO among the many prime firms within the Fortune 500 is Microsoft’s Satya Nadella. For the sixth consecutive yr, Nadella was voted the “most underrated” CEO though it’s exhausting to make the case that somebody is underrated when he’s getting paid $309.4 million in a single yr.

The median complete compensation for the 280 Fortune 500 CEOs that Fortune analyzed was $15.9 million final yr, up 30% on an annual foundation. Operating a tech firm is difficult work certainly, however those that are operating the highest tech companies are being properly compensated for the hours and sweat that they put into the job.



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