Apple boss Tim Cook nets £220m in shares and pay for 2020 as tech giant’s sales soar in the pandemic
Apple boss Tim Cook scooped nearly £220million last year as the iPhone maker made a handsome pandemic profit.
He received annual pay of £10.4million last year, up from £8.5million in 2019, according to regulatory filings.
On top of this, he received performance shares worth £207million which vested during the year, taking his total haul to £218million.
Apple boss received annual pay of £10.4m last year, up from £8.5m in 2019, according to regulatory filings
It comes after Apple raked in £202billion in sales in the first nine months of 2020, about £747million per day.
Demand for its gadgets has been boosted as the crisis forces families to spend more time at home.
Analysts think the US firm made another £75billion in the final three months of the year.
Cook, 60, is set for more big pay days. He already earned billionaire status when Apple’s market value reached £1.5trillion, based on his holding of 0.2 per cent of total stock.
But under a stock bonus scheme, he is eligible for a further 3.92m shares which have not vested yet, worth about £510million today.
Since taking over in August 2011, Cook has presided over an 875 per cent rise in Apple’s share price.