Miami Heat star Jimmy Butler made $36 million playing basketball in 2021, which definitely sounds like a lot of money to pay in a year. but Apple CEO Tim Cook paid more than 20 times as much as Butler last year. You would have thought that Cook’s $770.5 million investment would make him the highest-paid CEO among Fortune 500 CEOs, but you’d be wrong.
Apple’s valuation has risen by more than $2.2 trillion under Tim Cook.
Musk earned $23.5 billion last year, although much of that came from exercising some Tesla stock options. Behind Musk, Tim Cook was the second-highest-paid CEO on the Fortune 500 list last year, and a large portion of the $770.5 million that Cook added to his treasury came from the disbursement of a 10-year grant of Apple stock worth a total of $1.7 billion.
Apple CEO Tim Cook earned $770.5 million in salary and stock awards last year
Fortune magazine notes that Apple’s market value has increased by $2.2 trillion since Cook replaced Steve Jobs after his death of pancreatic cancer in October 2011. The magazine cited this as a way to confirm Cook’s massive payout. The reason for this is that if Cook gets $2.2 trillion to Apple shareholders, is he entitled to a huge salary for himself?
In third place, NVIDIA CEO Jensen Huang made “only” $561 million in 2021. The company is the world’s leading provider of artificial intelligence software and hardware. A company spokesperson said Huang “realized approximately $507 million in expiration options granted in 2011 and 2012, reflecting approximately 60 times the company’s share price year-over-year.” [past] decade.”
Increase the average salary of 280 Fortune 500 CEOs by 30% in 2021
Next on the list is Reed Hastings, CEO of video streaming service Netflix. According to Fortune, Hastings earned $453.5 million last year. However, a Netflix spokesperson only acknowledged the total wages listed in the company’s government-provided proxy statement, which included “$650,000 in cash and $39.7 million in stock options.” That’s still a lot of money, but nowhere near $453.5 million.
Aside from some of the names on the list, the seventh highest paid CEO among the top companies on the Fortune 500 list is Microsoft’s Satya Nadella. Nadella has been voted the “Most Underrated” CEO for the sixth year in a row, although it’s hard to argue that someone is underrated when he makes $309.4 million a year.
The average total compensation of 280 Fortune 500 CEOs analyzed by Fortune was $15.9 million last year, up 30% year over year. Running a tech company is really hard work, but those who run the biggest tech companies are well rewarded for the hours and effort they put into the job.