Apple chief executive Tim Cook made nearly $100 million in compensation in the company’s fiscal year, according to SEC filings published Thursday.
SEC filings show that Cook took home $98.73 million in the 2021 fiscal year, more than 500% more than the previous year’s $14.8 million, The Wall Street Journal reported.
Cook’s $3 million base salary remained stable in 2021, but he received a $12 million bonus for hitting Apple’s financial and environmental sustainability goals, $1.39 million in other compensation and $82.35 million in stock awards.
An expert on the Communist Chinese Party (CCP) who chronicles China’s current affairs reacted Wednesday to a damning report that Apple CEO Tim Cook paid the Chinese government $275 billion to curry favor with President Xi Jinping.
Simone Gao is a Chinese-born filmmaker and an award-winning reporter.
On Thursday, two of the biggest tech companies in the world posted earnings that fell below market expectations, attributed to the ongoing supply chain crisis that is paralyzing the American economy, according to CNN.
For the third quarter of 2021, Amazon’s net sales amounted to around $110.8 billion, which was a 15 percent increase from the previous year; however, this ultimately fell below market analyst predictions of about $111.6 billion. Amazon’s overall net income for the same period decreased from the same period in 2020 to about $3.2 billion, when predictions estimated around $4.6 billion.
Apple’s sales during the same quarter were $83.4 billion, with iPhone sales at $38.9 billion; both were lower than original projections.
Apple CEO Tim Cook called House Speaker Nancy Pelosi and other members of Congress last week, warning lawmakers that newly proposed antitrust legislation would harm consumers and hurt innovation, five sources with knowledge of the conversations told The New York Times.
Lawmakers introduced a series of antitrust bills that target Facebook, Apple, Google and Amazon, The New York Times reports. The legislative efforts seek to rein in the tech companies by addressing alleged anti-competitive practices and by curbing monopoly power, according to a report by CNET.
Pelosi pushed back on Cook’s warnings, asking him to name specific policy objections, two sources with knowledge of the conversations told The New York Times.
Apple Chief Executive Officer Tim Cook’s annual compensation increased by 28% in 2020 even as the coronavirus pandemic sparked a recession, according to filings.
Tim Cook’s 2020 compensation totaled $14.7 million, which was mainly comprised of performance-based pay, according to Securities and Exchange Commission (SEC) filings released Tuesday, Business Insider reported. While the coronavirus pandemic sparked a recession in the spring, Apple consistently reported positive financial figures including increased revenue and growth throughout 2020.