Tim Cook’s 2024 compensation package clocked in at $74.6 million, marking a notable rise from his \$63.2 million total the year before. These numbers appeared in Apple’s annual proxy filing, and they give us a closer look at how the company rewards its CEO when business is booming.
It all starts with his $3 million base salary, but the real eye-catchers are the $58 million in stock and the $12 million in performance-based awards. Apple also covered about $1.5 million in expenses, from air travel to security and even some personal items. If that feels steep, remember that Cook is required to travel on private aircraft at all times—an Apple policy meant to keep its top executive secure and on the go.
Apple had initially planned a target of $59 million for Cook’s compensation in 2024, but he ended up surpassing that thanks to Apple’s solid performance over the year. Even with the increase from 2023, his total pay is still lower than the $99 million he received in 2022, when Cook and Apple’s Board agreed it was time to dial things back.
Other top Apple leaders including Chief Financial Officer Luca Maestri, General Counsel Kate Adams, Retail Head Deirdre O’Brien, and Chief Operating Officer Jeff Williams each earned $27.2 million. Those figures show that while Cook might top the list, Apple’s key executives also benefit when the tech giant sees strong results.
FAQs
- How did Tim Cook earn $74.6 million in 2024?
Tim Cook’s total includes a base salary, stock awards, performance bonuses, and additional compensation for travel and security. - Why does Tim Cook have to use private aircraft?
Apple’s policy mandates private air travel for the CEO to ensure safety and efficient travel. - Was Tim Cook’s 2024 pay higher than in 2023?
Yes, his $74.6 million in 2024 is up from $63.2 million the previous year but still less than his $99 million in 2022. - Who else at Apple received high compensation packages?
Luca Maestri, Kate Adams, Deirdre O’Brien, and Jeff Williams each earned $27.2 million in 2024. - Why did Cook’s pay surpass Apple’s target compensation?
Strong company performance triggered a larger bonus payout, pushing his earnings above the planned $59 million.
