Apple costs over $US600 a share and has nearly an unfathomable $US100 billion in cash lying around. So is it any wonder its CEO is paid more than the national wealth of a small island nation?
Bloomberg reports “Tim Cook was the highest-paid chief executive officer in the US last year,” comprised of a modest “$US378 million, [including] salary, perks and bonuses ($US1.8 million) and a one-time stock award ($US376.2 million), that extends over 10 years.” It goes without saying that’s a lot of money, particularly for a guy who eschews designer turtlenecks in favour of T.J. Maxx fleeces and has no apparent desire to build a Steve Jobsian superyacht.
The man has a lot on his shoulders, sure, but in a single year he made more money than Tonga, a quiet archipelago with no real economy, was able to generate. And he didn’t exactly knock that last keynote out of the park. He even made more than the GDPs of Tuvalu, Palau and the Marshall Islands combined! In other news, Tuvalu has a GDP.
Congrats, Tim — don’t spend it all in one place. Maybe spring for a new fleece. [Bloomberg]