Apple's Tim Cook takes 11th on list of 'Best-Value' CEOs
On Tuesday Apple's leader, Tim Cook, placed 11th in a Bloomberg ranking of CEOs considered to be the best value to their companies in terms of pay versus performance.
Cook's most recent compensation is estimated to be nearly $10.3 million -- partly salary, but mostly non-equity incentive, Bloomberg said. The publication singled out Cook in its introduction, noting that while his compensation "isn't chump change," it makes him a "bargain" to Apple considering the many billions in profits the company has generated in the past three years.
Specifically Cook is estimated to have received about $2 million in salary, but some $8 million in incentives.
Cook's position on the list might have been higher except that a number of people above him, such as Berkshire Hathaway's Warren Buffet, accept much lower compensation. In fact the top two people on the list -- Fossil Group's Kosta Kartsotis, and Ubiquiti's Robert Pera -- aren't currently accepting any formal compensation. Kartsotis however owns more than $200 million in Fossil stock, while Pera owns nearly 70 percent of Ubiquiti.
Another person of note is Alphabet's Larry Page, who claims a salary of just $1, much like former Apple CEO Steve Jobs. Again like Jobs, though, Page is thought to make up for this with stock ownership.
Cook's most recent compensation is estimated to be nearly $10.3 million -- partly salary, but mostly non-equity incentive, Bloomberg said. The publication singled out Cook in its introduction, noting that while his compensation "isn't chump change," it makes him a "bargain" to Apple considering the many billions in profits the company has generated in the past three years.
Specifically Cook is estimated to have received about $2 million in salary, but some $8 million in incentives.
Cook's position on the list might have been higher except that a number of people above him, such as Berkshire Hathaway's Warren Buffet, accept much lower compensation. In fact the top two people on the list -- Fossil Group's Kosta Kartsotis, and Ubiquiti's Robert Pera -- aren't currently accepting any formal compensation. Kartsotis however owns more than $200 million in Fossil stock, while Pera owns nearly 70 percent of Ubiquiti.
Another person of note is Alphabet's Larry Page, who claims a salary of just $1, much like former Apple CEO Steve Jobs. Again like Jobs, though, Page is thought to make up for this with stock ownership.
Comments
And maybe the evaluation shouldn't be based at all on the CEO, but on the entire senior management team. What is their combined compensation as compared to company earnings?
And while the pure capitalists here will disagree with me, I believe all of these CEOs are paid far too much. A CEO who works 52 weeks a year, 50 hours a week and earns $10 million is earning $3846 per hour. How can someone who earns that much understand what it's like to live in the real world and therefore produce products or services for that world or compensate their employees fairly? Maybe if Apple's executives (and this applies to other companies as well) didn't earn that much money, they wouldn't price a MBP that tops out at $4200.
I think you can be a capitalist and still find $3,846.- per hour is too much. It is more of an ethical and political issue. Paying anybody that much per hour is just capitalism out of control. I think you can believe is social welfare, national health care, regulation of communal services etc etc, and still operate in a capitalist context.
Crony Capitalism, that lovely mix of of the trinity of Big Government, Big Business and Big Unions all looking after each other's interests is a more likely cause of salaries that do not reflect true worth, and it reaches its ultimate expression in CEO salaries.
But I came for Sogs reply. Found none