The GuardianThe Guardian

Apple’s Tim Cook to take 50% pay hit after shareholder feedback

By Rupert Neate

13 Jan 2023 · 2 min read

Editor's Note

Apple CEO Tim Cook is likely to have his pay slashed this year after investors complained about a sharp decline in the company's share price. He's now set to earn $49 million, the Guardian reports.

The Apple chief executive, Tim Cook, is expected to have his pay cut by almost 50% this year to about $49m (£40m) after the billionaire boss asked the company to “adjust his compensation” in the light of feedback from shareholders disappointed at the fall in the company’s share price.

Cook, 62, who became CEO after the death of the co-founder Steve Jobs in 2011, was paid $99.4m in 2022 and $98.8m in 2021. But the company said in a regulatory filing late on Thursday night that it had set a “target compensation” of $49m for 2023.

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