Apple

Apple CEO Tim Cook Got a 99 Percent Pay Cut in 2012

Posted on December 28th, 2012 by

The Average Joe would rage over getting a 99% pay cut from his or her employer, but if you’re Apple CEO Tim Cook, it’s not so bad. Cook received no stock award in 2012, so although his salary and bonuses increased 51%, his overall pay was down significantly from the previous year. Keep in mind, however, that in 2011 Cook “was awarded one of the highest compensation packages” — he got a whopping $376.2 million in stock that resulted in an overall pay package of $378 million. His total compensation for 2012, meanwhile, was only a “paltry” $4.2 million. That’s barely enough to live off of!

All kidding aside, Cook’s Apple stock is reportedly worth $510 million, so despite no stock award in 2012, I’m guessing he’ll use huge wads of cash to wipe away his tears. It’s been an interesting year for the semi-new CEO, who saw some ups (the iPhone 5, the iPad Mini, more retina display MacBook Pros), and some downs (Apple Maps). We’ll see what 2013 brings for Cook–he’s already announced plans to shift some Apple production to the United States, which will bring some jobs stateside.

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