The Apple CEO, Tim Cook, has now been declared as the highest paid CEO of the year 2011 with an earning of $378 million. This $378 million was offered to Tim Cook as compensation in 2011 and also the base salary of Tim Cook seems to have rocketed to higher levels.
With Tim Cook proving to be useful and handy in times of Steve Jobs’ absence from the company, Tim Cook indeed does deserve this high salary. When Steve Jobs was off from the company owing to his health issues, it was Tim Cook, as the temporary CEO, who took Apple to greater levels in the tech world.
According to the PDF document submitted to the US Securities and Exchange Commission, Tim Cook received $376 million in restricted stock and other compensation while the board of directors increased Tim Cook’s base salary from $900,000 to $1.4 million. When Tim Cook started his job as the CEO of Apple in August, he got 1 million stock units, in which half is to vest in 2016 and the other half in 2021.
When compared to Steve Jobs’ base salary, Tim Cook’s seems to be pretty high. While Steve Jobs agreed to the $1 a year salary, Tim Cook is here to earn $1.4 million a year. But the thing is that, Steve Jobs had a great deal of money in his stock which made him a multi-billionaire out there.
So, with $378 million in hands, Tim Cook indeed does become the highest paid CEO of the year 2011. Is this money worth his hard work? What can he do with that money? Do drop in .your thoughts below in the comments section.