In the past months, it was announced that Apple CEO Tim Cook received close to 99 million dollars in 2021. However, recent news has shown that investors find the payments made to Cook “worrying”.
US-based Apple is one of the largest technology companies in the world. In the past months, we shared with you that the company has reached a market value of 3 trillion dollars and that it is the first company to achieve this. As you can imagine, CEO Tim Cook, who is at the head of this technology giant, also earns significant amounts of money because he manages such a valuable company.
In fact, in the weeks we left behind, we told you that Cook’s income in 2021 was announced and that he earned 6.6 times more income compared to the previous year, and we recorded that the total annual income of the 61-year-old businessman reached up to 99 million dollars. However, the new news showed that the investors of the giant company were not very happy with this situation.
Payments to Cook ‘alarming’
According to reports, Corporate Shareholder Services (ISS), which provides advisory services for shareholders, said Cook’s $3 million salary, $12 million bonus and $82 million stock award last year were “worrying”. The ISS also stated that it wants investors to oppose Cook’s payment package, which is close to $99 million.
In the letter sent to the shareholders, it was stated that the size of the payment to Cook caused “significant concerns”, while it was emphasized that half of the award “lacks performance criteria”. The ISS also added that the payment to Cook was 1,447 times more than the average Apple employee, private security costs reached $630,000 last year, and personal use of the private jet cost $712,500. It was stated that these costs are much higher than other companies.
Cook, who is thought to have a fortune of more than $1 billion and who has been the CEO of Apple for more than 10 years, previously expressed his concerns about equality and human rights and stated that he would donate all his wealth when he died . In a file released last year by the US Securities and Exchange Commission (SEC), it was revealed that Cook donated around $10 million to a charity.