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Steve Jobs' Salary Was $1, But What About Tim Cook?

With news that Apple CEO Steve Jobs is stepping down, all eyes are on his replacement Tim Cook, who has promised staff that things won't change just because Steve is gone. However, one thing that is likely to change is the CEO's salary. While Steve Jobs has earned just $1 per year (don't worry, Mr Jobs has approximately 5.5 million Apple shares, he's not starving), Tim Cook's salary for 2010 was significantly more.

According to Forbes.com, Tim Cook's compensation for last year was a little over $59 million. His actual base salary was $800,016, but he received a $5,000,000 bonus, $52,334,250 in restricted stock awards, $58,306 that's marked under 'all other compensation,' and $900,000 via non-equity incentive plan compensation. All of this adds up to a grand total of $59,092,572. In January, AppleInsider reported that that $5 million bonus was a "special award" to recognize Cook's "outstanding performance" in overseeing the company's day-to-day operations during Jobs' 2009 medical leave of absence. He was also given 75,000 restricted shares of AAPL stock for his troubles.

It's not yet known how much Cook will receive for filling in for Steve Jobs during his most recent leave of absence. It's also not known if Cook will receive a salary bump now that he's the CEO. It's also not clear if Steve Jobs will receive a retirement package from Apple. The San Francisco Chronicle says Apple's financial statements give no indication of any severance package, pension or health plan for Steve.

  • Pyree
    So my official salary is higher than Steve Jobs? Awesome!

    I will use thsi as a pick-up line:

    "My salary is higher than Steve Jobs, are you free tomorrow at 8?"
    Reply
  • anony2004
    $59 million last year? Isn't that a hell lot of money to earn?
    Reply
  • sunflier
    Steve Jobs' Salary Was $1, But What About Tim Cook?
    I'm no math wiz here but I'm guessing $800,017.
    Reply
  • Looks to me like Mr. Cook chose the right line of work. He's not making this money off of taxes, but off of a valuable and highly sought after product. Kudos to him and all of his high salaried staff.
    Reply
  • I find it interesting that no one has mentioned Jony. He is the actual "brain" behind the last Apple hits, iPhone, iPad and Air. Steve made sure that Jony's design was perfect but, who will work with him now? Tim is a numbers and operations guy, who will be the visionary?
    Reply
  • He's not starving!?! What an insensitive thing to say about a man whose disease inhibits his body from absorbing nutrition and who, in fact, IS starving...to death. Why not ask someone with some common sense to proofread your comments before posting them publicly? Thank you.
    Reply
  • GreaseMonkey_62
    I don't think it matters what he gets paid. CEO's of big companies tend to get insanely large bonuses and other compensation pay, that nearly always dwarf their actual pay.
    Reply
  • Marco925
    TwistdiffI find it interesting that no one has mentioned Jony. He is the actual "brain" behind the last Apple hits, iPhone, iPad and Air. Steve made sure that Jony's design was perfect but, who will work with him now? Tim is a numbers and operations guy, who will be the visionary?
    Jony la gente está muy loca
    Reply
  • damasvara
    I'm no psychic either, but I'm guessing his future salary as CEO will be more than that. :P
    Reply
  • Bet u as a CEO $1 too.... plus all the rest kept in place...
    Reply