Even though Apple Didn’t Have a Great Year, Tim Cook Gave His Salary Raise

Although Apple went through a difficult period in the 2024 fiscal year, there was a remarkable increase in CEO Tim Cook’s salary and total income.

Tim Cook left behind with bonuses and other compensation in addition to his $3 million base salary earned a total of $74.6 million per year. Moreover, this figure represents an 18% increase compared to the previous year, despite the situation of the company going through difficult times.

Tim Cook increased his salary by 18%

Tim Cook’s income items include stock awards of $58.1 million, non-stock incentive payments of $12 million and other compensation of $1.5 million. Apple also increased the target value of Tim Cook’s stock award from $40 million to $50 million. This move was made because Tim Cook needed to bring his salary closer to the level of CEOs of other technology giants.

Although Apple made an innovative move in the technology world by introducing Vision Pro last year, the price of the product unfortunately overshadowed its success. The company also announced its artificial intelligence initiative, Apple Intelligence. Of course, this initiative was overshadowed compared to the artificial intelligence solutions offered by competitors such as Samsung and Google.

Apple generated $295 billion in revenue during this period. This figure remained significantly lower than the previous year. The company’s net profit also decreased from 97 billion dollars to 93.74 billion dollars.