Apple CEO Tim Cook taking over Rs 400 crore pay cut in 2023, he earned THIS much in 2022

Apple CEO Tim Cook is taking more than Rs 400 crore pay cut in 2023 after earning nearly Rs 800 crore (99.4 million) in 2022, a report by Bloomberg’s Mark Gurman suggests. According to the report, the CEO has requested a reduced compensation following suggestions from the shareholders. As per the report, Cook’s target compensation for this year will be around Rs 400 crore. Cook’s Rs 800 crore compensation for 2022 included approximately Rs 675 crore ($83 million) in stock awards, Rs 24 crore ($3 million) salary and other compensations worth Rs 100 crore ($13.4 million). 

Apple CEO Tim Cook’s total compensation in 2021 was also similar to 2022, around Rs 800 crore. According to Apple's Compensation Committee, the company had "exceptional performance" in 2022 under Cook’s leadership. For those who are unaware, Cook has been Apple’s CEO for more than a decade and he is carrying on the legacy of Steve Jobs.

Reflecting on the past year, Cook recently shared a message to Apple’s shareholders and here is an excerpt from the message. “Today, we have the strongest lineup of products and services we’ve ever had, and our technology has never shown up for our users in more ways. And our latest innovations are helping so many of us harness our creativity, connect with loved ones, find entertainment and joy, and live safer, healthier lives.”

“Progress like this makes me profoundly confident about the future of Apple, and technology's potential to solve problems and improve lives. And I remain grateful to everyone at Apple for the work they do each and every day - and to our shareholders for their trust and investment in our company.” he further added.