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  • Tim Cook Awarded $378 Million Pay Package in 2011



    Paydays vary from peanut-filled-cavity-crushing chocolate bars to loads of cash and stock options large enough to weigh down John Corzine’s conscience. Tim Cook's 2011 pay package falls in the latter.

    Apple awarded new Apple CEO Tim Cook an insane pay package worth $378 million dollars. The pay package is composed of 1 million restricted stock units awarded to Cook by Apple worth $376 million, his salary of $900,000 and performance bonuses of another $900,000. This is of course more than Steve Job’s famous salary of $1 a year, which was offset by roughly 5.5 million Apple shares.

    The stock Apple awarded Cook is the largest single payout given by a company in a decade according to Aaron Boyd, head of research at Equilar, an executive compensation data firm. By comparison 2010’s best paid CEO was Viacom head Philippe Dauman who raked in $84.5 million in new shares and stock options via a new contract. Cook’s payday outdoes that pittance by a factor of four.

    As an incentive for Cook to stick around just a bit he will receive half of his shares in 2016 with the other half coming in 2021. It looks like Apple’s CEO will be around for a few years yet.

    Source: BBC
    This article was originally published in forum thread: Tim Cook Awarded $378 Million Pay Package in 2011 started by Phillip Swanson View original post
    Comments 26 Comments
    1. Donnutt's Avatar
      Donnutt -
      Quote Originally Posted by AUZambo View Post
      I love it when working class people hate on rich people. If you don't like rich people then move to Cuba. If you're going to participate in a capitalistic society (assuming y'all live in America) then just accept the fact that there will be filthy rich people and applaud their success.
      THANK YOU!!!
      I wanted to say something like this, but couldn't word it.
      It seems that every time there is a story about someone being rich, there are always people saying "I hope he/she does something good with that money." The fact is, many, many people of wealth give more to charity AND taxes in one to five years than most working class do their whole lives! The tax bracket they pay is ~38%! Leave em be and be happy for them.
    1. Mrteacup's Avatar
      Mrteacup -
      You guys should realize he didn't actually get that much money I get it if you're complaining about his salary but still by the time he even gets half of them it could be worth much less. Sure it's a lot but I don't like it when people complain about someone being rich. I'm fine with complaining about snobs that it inheritance but actual hard workers don't deserve crap. Think being a CEO of apple you make huge desicions and people have super high expectations and you don't want to let them down. Also really don't complain about the a company uses there money unless you're a shareholder. but if you're complaining cause they didn't completely change the device in one year and a half I challenge you to improve it. Otherwise please stop your fighting I like half of your guys opinion but I only completely agree with few of you.

      Point is, don't complain about this like he won't deserve it in 10 years as CEO.
    1. broncosi's Avatar
      broncosi -
      I guess my point is, there are other people with far greater accomplishments that don't make near that amount. There are very few jobs in the world that merit that kind of pay and being the CEO of a company is, in my opinion, not one of them. He just started too, what will Apple do to "up" themselves in the years to come.

      Quote Originally Posted by andygev35 View Post
      Would you honestly take that much if it were offered to you? I have no doubt you would.
      Thank you for assuming what a complete stranger would do if offered an absurd amount of money but you're wrong. Thanks for playing! Just because you are greedy and would take all the money you could get your hands on, doesn't mean everybody lives that way. Thank you for continuing the american greed stereotype though . . .
    1. Andaz's Avatar
      Andaz -
      I believe there are more people talented than him but get paid less.
    1. AUZambo's Avatar
      AUZambo -
      Quote Originally Posted by broncosi View Post
      Thank you for assuming what a complete stranger would do if offered an absurd amount of money but you're wrong. Thanks for playing! Just because you are greedy and would take all the money you could get your hands on, doesn't mean everybody lives that way. Thank you for continuing the american greed stereotype though . . .
      Success and Greed are not the same thing. 95% of millionaires got there by working their butts off and offering something unique or an incredible skill that is not easily replaced. The vast majority of them also came from working middle class families.

      The people who complain about the rich are typically the ones who ***** and moan every time they have to work late or exert more than the average amount of effort. They WANT the money, but would rather play the lottery or hope to inherit it rather than actually take some risks to earn it.

      Tim Cook did not bang on everyone's door demanding an insane bonus. It was part of the deal when he took the job and was later OFFERED to him (according to this article). That is far from greed. At the very worst it's luck.
    1. broncosi's Avatar
      broncosi -
      Quote Originally Posted by AUZambo View Post
      95% of millionaires got there by working their butts off and offering something unique or an incredible skill that is not easily replaced.
      Wait. Where did you get this statistic again?

      Quote Originally Posted by AUZambo View Post
      Success and Greed are not the same thing.
      I never said they were. I said that it was greedy that andygev35 was ready to snatch up any money that was offered to him and assuming everyone else would do the same. Tim Cook may not be greedy, but under what circumstances does anyone have the right to deem his success, post Steve Jobs success, worth that amount.

      Quote Originally Posted by AUZambo View Post
      The people who complain about the rich are typically the ones who ***** and moan every time they have to work late or exert more than the average amount of effort. They WANT the money, but would rather play the lottery or hope to inherit it rather than actually take some risks to earn it.
      Again, outstanding assumption and generalization of your life experience and view on people. I can't believe Apple didn't 'award' you any of the money.

      Quote Originally Posted by AUZambo View Post
      At the very worst it's luck.
      Luck, like the lottery?

      Quote Originally Posted by AUZambo View Post
      They WANT the money, but would rather play the lottery
      Sounds like you're describing the same person here.
      Auburn sure is spitting out some quality work . . .