Tim Cook has fallen to eighth place on a list of the highest-paid CEOs and executives in the United States despite earning more than the previous year, according to online sources. The highest-paid CEOs and Executives in the US which has SpaceX and Tesla’s CEO – Elon Musk sitting on top of the list. Tim Cook who took over as Apple company in 2011 after Apple co-founder Steve Jobs fell ill with cancer falls in eighth place. Prior to taking on the role of CEO, Cook served as Apple’s Senior Vic President of Operations and Chief Operating Officer. As Chief Operating Officer, Tim Cook managed worldwide operations, maintained reseller relationships, and kept a close eye on the company’s supply chain, helping lead Apple to profitability.
Cook who was a close friend and confidant of Steve Jobs, has continued to keep Jobs’ legacy alive by taking actions that spur the company towards greater growth. Under Cook’s reign, Apple has taken a strong stance on social issues, environmental protection, supply chain responsibility, and privacy rights. Last month Apple CEO Tim Cook announced that Apple plans to donate to organizations in Western Europe to support flood relief efforts.
No doubt Cook has overseen Apple’s rise to become one of the most profitable companies in the world this year with revenue of $274.515 billion and profit of $57.411 billion, according to the Fortune Global 500 rankings. Cook has overseen the development and launch of major products like the iPhone X, the Apple TV 4K, the iPad Pro, the Retina MacBook, and AirPods. Apple is branching out under his leadership, exploring new avenues of innovation in areas like automobiles and augmented reality. Many think Cook may even be underpaid based on what he has done at Apple so far. In 2020, Cook was paid $265 million, mainly comprising stock awards and a bonus as in previous years, making him the eighth highest-paid executive in the United States. Last year, Crook was paid compensation of $133.7 million but ranked second after Tesla CEO Elon Musk, who was paid $595.3 million.
By the end of 2020, Cook was surpassed in terms of payment by the COO of Oak Street Health, the CEO of Palantir Technologies, the CEO of Opendoor Technologies, and the Co-CEOs of GoodRX Holdings. Elon Musk again overwhelmingly topped the list with compensation amounting to $6.658 billion. Last month, it was alleged that Musk demanded to become the CEO of Apple as part of early discussions around a potential Apple acquisition of Tesla, though Musk denies this.
Apple’s Senior Vice President of Retail and People Deirdre O’Brien and Senior Vice President and General Counsel Kate Adams also made the list in 93rd and 96th place, with pay of $45 million each. This makes O’Brien and Adams the fourth and fifth-highest paid women executives in the United States.