Apple chief executive Tim Cook may be the highest-paid CEO in the country, taking home a pay package valued at $378 million in 2011.
Apple gave Cook 1 million shares of restricted stock in August when he became the company's CEO, replacing the iconic Steve Jobs, according to the Associated Press. The stock, worth $376 million, is the lion's share of his income, along with a $900,000 salary and $900,000 performance bonus, $16,420 in company contributions to his retirement account and life insurance premiums. The stock will vest in August 2016 and the other half in August 2021.
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(While Jobs only had a $1 annual salary, he also owned 5.5 million shares now worth $2.3 billion.)
Cook's pay package is significantly higher than the 2010 highest-paid CEO, Philippe Dauman of Viacom Inc. who made the top of the list with only a $84.5 million contract. In fact, Cook's haul was higher than the 10 highest-paid CEOs in 2010 combined.
While Cook won't see most of the cash for years yet, it's unlikely there will be another CEO that can beat Cook's lucrative pay. Nor is there likely to be another company that can beat Apple's earnings or pile of cash. We think Cook's place on the list is a safe one.