Home Health Tim Cook, Apple’s number one earns twice as much as Hamilton and 1,447 times more than an employee

Tim Cook, Apple’s number one earns twice as much as Hamilton and 1,447 times more than an employee

by admin

The figure relating to the super compensation of Tim Cook, Apple’s number one, arrived like lightning in the already complicated world of controversy over the super salaries of top managers: a record salary, double that of the highest paid driver in F1, Lewis Hamilton, and soared thanks to the awards he earned in shares of the company that earned him nearly $ 100 million in 2021. And considering that the average salary for Apple employees last year was $ 68,254, Tim Cook received a salary equal to 1,447 times that of one of his collaborators.

The analysis

What’s behind Apple’s 3 trillion billion

by Bruno Ruffilli

And we are talking about official numbers that come from a document delivered by Apple itself to the SEC, the authority that controls the market in the US. From here we learn that Cook’s salary remained at $ 3 million in 2021, but then the manager received $ 82.3 million in Apple stock awards, $ 12 million for reaching Apple’s goals and 1.4 million dollars for air travel. For a total of almost 100 million.

According to the latest Executive Paywatch report, released by the American Federation of Labor and the Congress of Industrial Organizations (AFL-CIO), the average CEO-to-worker pay ratio in S&P 500 companies was 299 to 1 in 2020. Much different than that. of today. Of course, it is clear that top executives must earn more, indeed significantly more, than average workers, but at the same time there is a growing criticism of the widening gap between CEO pay and regular employee pay.

In fact, data compiled by the Economic Policy Institute shows that inflation-adjusted CEO pay at the 350 largest public corporations in the United States grew by 1,322% between 1978 and 2020. In stark contrast, real wages of the production / unsupervised workers grew by just 18% during the same time frame, raising doubts that workers are getting their fair share of the value they help create.


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