Cook trails far behind Paycom CEO Chad R. Richison, who topped the list with USD 211 million in total pay, according to rankings of S&P 500 CEO earnings
Apple CEO Tim Cook. Pic/AFP
Apple CEO Tim Cook's compensation for heading the most valuable company in the US is relatively modest, as he is placed at the 171st position in rankings of S&P 500 CEO earnings.
Apple is at the top of the Standard & Poor's 500 rankings in terms of market capitalisation but Cook's direct pay from the company is far lower than many others in the list, AppleInsider, citing WSJ, reported on Tuesday.
Cook trails far behind Paycom CEO Chad R. Richison, who topped the list with USD 211 million in total pay, followed by Shantanu Narayen of Adobe at third with USD 45 million, the USD 23 million earned by Daniel H. Schulman of Paypal in 49th place and IBM CEO Arvind Krishna in 122nd with USD 17 million.
Also read: Apple pledges USD 430 billion, 20,000 new jobs in US over 5 years
At the other end of the scale, Warren Buffet is in 413th place with USD 380,328, Jack Dorsey of Twitter is in 414 with a token USD 1 salary, and Elon Musk is in last with USD 0.
The complied compensation data for 416 CEOs from the 500 companies on that list showed Cook's total pay for 2020 was USD 14,769,259, according to the report.
Despite seeming high and also rising 28 per cent from his 2019 compensation, this only puts Cook in position 171 on the list.
While the rankings indicate Cook is getting paid similarly to other major CEOs, it is not the entire story, the report said.
Given that many CEOs, including Cook, are stockholders in the company they lead, their salary can become only a small part of their total overall income, it added.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever