Apple has paid CEO Tim Cook a total of $ 1.4 billion since 2007. Oracle Chairman Larry Ellison has accumulated nearly $ 1.9 billion in stock and cash over the same period. And Mark Zuckerberg has raised $ 5.7 billion from Facebook since it was launched in 2012.
These are one of the billion-dollar men in the tech industry. Cumulative salaries for half a dozen executives have exceeded $ 13.2 billion, according to a new analysis over the last 15 years. These are the years when tech companies will be a powerful force in the economy, our lives, and world affairs. The mood for technology has deteriorated recently, but the salaries of tech bosses have remained largely intact.
The New York Times published on Friday Analysis of the highest paid CEO My colleague Peter Ebis reported that during the pandemic, executives received some of the richest payroll packages to date.
To understand how companies paid their bosses over time, executive compensation consulting firm Equilar ranked the 10 executives with the highest cumulative total salaries dating back to 2006, when changes in corporate compensation disclosure changed. I attached it. Tech Boss took 6 of those 10 spots, mainly because of the value of the shares their company gave them.
The multi-billion dollar salary of a handful of men — and yes, they’re all men — raises big and unanswerable questions: how do you know if they’re worth the money? Is it?
Baseball stats geeks Win over replacement, This attempts to quantify the value of the player by estimating the number of wins the team has with him compared to potentially cheaper substitutes. Even in the data-focused tech industry, there are few attempts to apply a win that surpasses corner office alternative statistics.
According to Equilar’s analysis, Alphabet’s fictitious alternative leader does a better job than Sundar Pichai, and Google’s parent company may have paid him less than $ 1.1 billion in stock and other compensation since 2015. there is. The board usually doesn’t try to find out. The CEO will be paid the amount paid.
Let’s take a closer look at the salaries of some CEOs. Calculating the amount “paid” by a company manager is a complex and controversial task. In some cases, the tech boss’s rewards can be even higher than the initially proposed mind-boggling numbers.
When Cook took over Steve Jobs as Apple’s CEO in 2011, the company promised to give him 28 million shares over the next decade after adjusting for a stock split.At that time, Cook was mainly The stock is potentially worth $ 376 million. One expert called Cook’s stock award “historic enough to distort the numbers.”
But Cook brought back all the shares only if he got stuck for 10 years and the company’s stock price rose faster than most other big companies. So what happens? Cook is likely to collect all or almost all shares, with the final batch scheduled for August. These stocks are currently worth $ 3.5 billion, according to one calculation, nearly ten times the “historic” numbers 10 years ago.
Companies usually justify the highest executive salary by saying that their bosses are irreplaceable and mostly paid in stock, so shareholders only get rich if they do so. Cook’s wallet has been fat alongside those who happened to buy Apple stock since 2011 due to rising Apple stock prices.
But again, it’s hard to assess how much Apple’s financial or equity performance is doing Cook’s performance. Maybe you will do 80 percent like Cook at a small cost.
Apple does not directly disclose the $ 3.5 billion figure. I aggregated it into shareholders from Apple’s annual report. Equilar has calculated cumulative compensation of $ 1.4 billion since 2007, when Cook was Apple’s chief operating officer. The Equilar numbers are an assessment of the value of each year’s stocks released to Cook, not the present value of those stocks. As I said, there are many ways to chop up CEO payments.
This number may seem light-years (or a few zeros) away from most people’s financial situation, but it also has a reassuring message for those who feel ignorant about money.
Zuckerberg almost completely outperformed the equivalent ranking of long-term CEO salaries from the 120 million stock options Facebook handed him shortly after the company was founded. Zuckerberg sold about one-third of these shares for $ 2.3 billion more than a year after Facebook went public. If he had held those shares instead, they would now be worth nearly $ 14 billion.
But don’t let Zuckerberg fall asleep worried about the untimely sale of shares.He is still Equivalent to $ 124 billion..
Before going …
About the discount internet service … Emergency government funding should help low-income Americans reduce their monthly internet bills by up to $ 50. The news site protocol detected even the slightest discrepancy, such as the address being entered as “Street” instead of “St”. -was Causes some internet companies to block qualified people.. (Washington Post I have written Last month about other Shenanigans in this internet discount program. )
Break the soldering iron! Vice News reports that New York may be ready to pass the first state law in the United States. Repairing your electronics should be easier and cheaper And others. Some product manufacturers, including Apple and John Deere, are lobbying for them.Right to repair “law It will require them to give people and repairs-it gives the store access to information manuals, tools and parts, rather than relying solely on an authorized repair provider.
How about the “The Crown” crown? Netflix has opened an online store to make extra money Products related to the company and its showsColleagues John Koblin and Sapna Maheshwari report on Lupine cushions and Netflix-branded boxer shorts.
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Are Tech’s Wealest Men Worth Their Salary?
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