Apply paid its chief Tim Cook $9.22 million last year, more than double his $4.25 million paycheck in 2013, according to reports.
Cook's compensation package included $6.7 million in "non-equity incentive compensation" and a $1.75 million salary, according to U.S. Securities and Exchange Commission filings. The reason for the pay hike seems to be self-evident by Apple's high stock price and "confidence" in the Apple brand, Bloomberg News reported.
Apple has also debuted a smartwatch, a mobile payment system and reported a market capitalization of $700 billion -- something no other U.S. company can equal. In short, Cook is being compensated richly for making the company more profitable under his watch.
U.S. & World
It was also revealed that Apple's new retail chief Angela Ahrendts was hired with $70 million worth of stock and a salary of $411,538 -- with a total pay package of $73.4 million. It's no wonder she left Burberry, how could any other company compete?
Other compensation for 2014 included $14 million to Luca Maestri, chief financial officer, and $24 million each to Eddy Cue, Internet software and services chief and Jeff Williams, Apple's head of operations.