CEO Tim Cook Earns $10.3 Million from Apple Last Year
The Apple CEO earned a bit more than $10 million last year. According to CNBC, Chief Executive Tim Cook took home $10.3 million as his earnings in 2015.
As explained on the report, the CEO's base pay had a $2 million increase last year, which is about 14.4 percent. On the other hand, his "non-equity incentive compensation rose about 19 percent to $8 million, citing a regulatory filing.
Last year, the tech industry saw an entirely new product from the iPhone maker, the Apple Watch. According to Phone Arena's report, it was the first time Apple released a new kind of device since it launched the iPad in 2010.
Moreover, a new iOS slate, the Apple iPad Plus equipped with almost 13-inch screen was also launched last year. For the iPhone lovers, two new models were revealed and released by Apple, the iPhone 6S and iPhone 6S Plus, which both arrived with one of its key features, the 3D Touch.
Below is the official introduction video for the iPhone 6S and iPhone 6S Plus, as posted by Apple on its YouTube channel:
CNBC shared that these two iPhone models were able to set weekend records and smash hit sales in China. But even though it seemed like Apple has a good year because of these product releases, Apple's value, as noted on Phone Arena, declined in 2015.
This drop in market value is the first time for the company since the year 2008. "Last year, Apple's market capitalization (share price x shares outstanding) dropped 4.64 [percent] as the company shed $57 billion in value during 2015," Phone Arena explained.
But regardless of the weakened share price of Apple, Tim Cook got an 11.5 percent pay hike from $9.2 million earnings in 2014, Mac Rumors shared. The total salary received by the Apple CEO is $10, 281, 327 million, a recent SEC filing revealed.
Furthermore, other executives of the Cupertino-based tech company were able to earn more than Tim Cook. For instance, Luca Maestri, the Chief Financial Officer of Apple has a whopping 81 percent increase for last year's compensation.
According to reports, Maestri took home $253 million as his 2015 earnings from Apple.
With Tim Cook as the Apple Chief, the company was able to generate $233.7 billion in sales, which is 28 percent higher than their 2014 performance and a new record for the company, as well. "According to its October forecast, Apple expects to continue its record earnings streak into 2016, with projected revenue between $75.5 and $77.5 billion for the first quarter of 2016," Mac Rumors further noted.
The company's earnings for the first fiscal quarter of 2015 will be released by Apple on Jan. 26.
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