Tim Cook Given A Major Pay Increase After Success of iPhone (including A Private Jet)

Photo by iphonedigital/Flickr

People may be in an era of little growth in terms of wages. However, that is not the case if you are the boss of the biggest tech company in the world.

New regulatory filings reveal that Tim Cook, the chief executive of Apple, was given a major pay increase following a great year for sales of the iPhone.

Cook was able to earn $12.8m for the year to the end of September, up by 47 percent on the previous year when he had taken a pay decrease.

The said pay packet came in the form of a salary amounting to $3.06m and a chunky bonus amounting to $9.3m. He also received $89.2m worth of stock.

For the 2016 financial year, the remuneration of Cook dropped from $10.3m to $8.7m in 2015.

And the paperwork also unveiled that the tech leader has been offered the use of a private jet for the first time, noting “the interests of security and efficiency based on our global profile and the highly visible nature of Cook’s role as chief executive.”