Apple’s boss scooped a payout of just about $100m final 12 months as he celebrated his tenth anniversary in cost.
Tim Prepare dinner bagged $98.7m, or £72.9m, in 2021 – six occasions his pay the 12 months earlier than.
The iPhone maker revealed the eye-watering sum in a regulatory submitting simply days after it grew to become the world’s first ever firm to hit a inventory market worth of $3trillion.
Bonanza: Tim Prepare dinner bagged $98.7m, or £72.9m, in 2021 – six occasions his pay the 12 months earlier than
Shares have soared during the last 12 months as extra folks turned to know-how throughout the pandemic and Apple created iPhones with the capability to run on 5G cellular internet works. Prepare dinner’s base wage of £2.2m was unchanged. Most of his pay got here by way of shares in Apple he was given as he entered right into a long-term incentive plan.
He’ll have the ability to begin cashing within the shares between 2023 and 2025 – giving him a cause to stay on the firm for a minimum of one other three years. The 61-year-old joined Apple in 1998 and took over as chief govt from co-founder Steve Jobs shortly earlier than his dying in 2011.
Throughout Prepare dinner’s decade in cost, Apple’s shares have shot up greater than 1100 per cent. However some critics have raised issues that he lacks the artistic imaginative and prescient of his predecessor and has but to give you a very revolutionary new product. And the agency has additionally come beneath hearth over its tax construction, because it has saved billions of {dollars} of earnings in Irish subsidiaries to scale back its tax invoice.
Prepare dinner, who grew to become the primary brazenly homosexual chief govt on the Fortune 500 listing of America’s largest firms, has beforehand mentioned he plans to donate most of his wealth to philanthropic causes. Underneath his management, Apple has grow to be extra beneficiant with its donations and has handed tens of thousands and thousands of kilos of its shares to charities.