Apple CEO Tim Cook’s total compensation surged to $74.6 million in 2024, reflecting an 18% increase from his $63.2 million earnings in 2023, as disclosed in Apple’s annual proxy filing released on Friday. The significant boost was driven by performance-based incentives tied to Apple’s strong results.
Cook’s 2024 compensation package comprised a $3 million base salary, $58 million in stock awards, $12 million in performance-based bonuses, and $1.5 million in other benefits, including security expenses, private air travel, 401(k) contributions, life insurance premiums, and vacation cash-outs.
Despite exceeding the company’s initial $59 million target due to Apple’s impressive financial performance, Cook’s earnings remained notably lower than his 2022 compensation of nearly $100 million. The reduction was implemented following shareholder and employee concerns over his previous pay package, prompting Cook and Apple’s Board of Directors to agree to the adjustment.
The filing confirmed that Apple’s board has decided to maintain Cook’s current compensation structure for 2025, citing his “continued exceptional leadership.” Due to security and efficiency considerations, Cook is required to use private aircraft for both personal and business travel.
Other top Apple executives, including COO Jeff Williams, retail chief Deirdre O’Brien, and general counsel Kate Adams, earned around $27.2 million in 2024, reflecting modest increases.
