What you need to know
- Tim Cook has fallen down a list of the U.S.'s highest-paid CEOs and executives.
- Cook earned $265 million in 2020, but that was only enough to see him eighth in the list, down from second last year.
- The winner was Elon Musk thanks to his staggering $6 billion option awards.
Apple CEO has fallen to eighth on a new list of the highest-paid CEOs and executives in the U.S., according to a new report.
Figures from Bloomberg show that Cook earned just over $265 million last year, mostly in stock awards from Apple, which has made up the majority of his compensation since his tenure as CEO began.
Cook fell behind execs from Oak Stree Health, GoodRx Holdings, Opendoor Technologies, and Palantir Technologies despite taking home significantly more than he did in 2019. Last year this same report pegged Cook's earnings at $133 million, second only to Elon Musk who made about $600 million last year. This time around Musk earned an astonishing $6.66 billion thanks to his 'moonshot' compensation package.
Apple's Deirdre O'Brien made the list at 93 taking home $45 million last year, making her one of the top five earning women on the list, just ahead of Apple's SVP and General Counsel Kate Adams, who also earned $45 million.
Earlier this week Fortune revealed that Apple was 6th on its top 500 list of the world's move valuable companies by revenue, and number one when it came to profit. From that report:
In terms of Apple, its move from 12 to six in the rankings comes as it was also the most profitable company on the list thanks to last year's $57 billion in profits.The pandemic created challenges and opportunities for Apple. CEO Tim Cook had to close stores and send home engineers. But with Apple customers worldwide working and learning from home, iPad and Macintosh computer sales skyrocketed to their highest levels ever. And fiscal-year revenue hit an all-time record too, of $275 billion. That helped Apple's stock price soar; it gained 80.7% in 2020.
You can see the full list here.
