Here’s How Much Apple CEO Tim Cook Earned in Salary in 2024

Apple’s chief executive officer Tim Cook received a decent appraisal in 2024, increasing his total compensation to a whopping $74.6 million. In a regulatory filing, the world’s most valuable company revealed that Cook’s remuneration package last year jumped 18 per cent from $63.2 million in 2023. That contributed to Cook’s net worth, which is now over $2.5 billion.

Cook’s annual compensation for 2024 consists of a $3 million base salary, which has remained the same for the last few years. However, he received stock awards worth $58.1 million, $12 million in non-equity incentive plan remuneration, and $1.52 million as part of other compensation. While last year represented a jump in Cook’s annual salary over the previous year, he made roughly $100 million in 2022. Moreover, the $74.6 million figure is no match for what Tesla and SpaceX CEO Elon Musk received last year. The world’s richest person saw his net worth climb by a staggering $213 billion in 2024.

“Mr Cook’s performance, as well as Apple’s significant size and scope, support the positioning of Mr Cook’s total target compensation within this targeted range,” said Apple in its Notice of 2025 Annual Meeting of Shareholders and Proxy Statement.

Under his leadership, Apple shattered all previous records to reach a market capitalisation of over $3 trillion — bigger than the gross domestic product (GDP) of several nations. Apple’s net sales were up two per cent to $391 billion, while its opening income jumped 8 per cent to $123.2 billion. “Since Mr Cook was promoted to CEO in 2011 and through the end of 2024, Apple's cumulative TSR increased approximately 1,908 per cent, significantly outpacing the S&P 500, and Apple's market capitalization grew by more than $3 trillion,” said Apple in its notice.

However, iPhone sales in one of Apple’s crucial markets, China, have slumped, pushing the iPhone maker to the third position in the smartphone market. Facing stiff competition from Huawei, Vivo, and other local rivals, Apple saw a 17 per cent decline in annual iPhone shipments in China.