S&P: Tim Cook Raked in $74M Last Year
On Friday afternoon, as stocks tumble led by the technology sector, many investors are checking their portfolios and 401Ks to see what kind of damage has been done. All told, it's perhaps not a good time to remind investors that the individuals that lead many of these companies did really, really well for themselves last year.
But according to the latest data from Standard & Poor's, which was shared publicly today, we're getting an in-depth look at which CEOs made the most money last year. Of the 500 companies that filed proxies with the Securities and Exchange Commission between Jan. 1 and March 27, 2014, annual compensation reports reveal that Tim Cook had a banner year.
The Apple CEO brought home $73.9 million (mostly in stock, some in salary) during 2013. In fact, the only CEO in tech who made more was Facebook boss Mark Zuckerberg, who rang the register on $3.3 billion in stock options last year.
"The extremes are getting bigger and run smack dab into the debate of income inequality," compensation consultant Alan Johnson tells USA Today. "Boards are quite concerned over how executive compensation will be perceived. There's very little of, 'Let's make Mr. Big happy because we're all friends and he's a nice man.' But you try to balance what's competitive. I tell boards that their primary goal is to do what's best for shareholders. If a CEO has created shareholder value, whether they're good or lucky, and things look like they're going to go well, you're probably going to have to pay a lot."
To check out the full executive compensation log, click here
Source: USA Today