Apple CEO Tim Cook is set to make an extra $89.6 million in bonuses, accordingto a Telegraph report published Friday.
The tech executive, who has been at the helm since 2011, will earn a $44.8 million bonus sometime next week. Another $44.8 million is expected through 280,000 shares, which is part of his annual reward. Both depend on the company’s overall performance. Cook’s base salary is roughly $10 million per year, but he is set to receive the full reward if Apple is in the top third of S&P 500 companies.
The $44.8 million valuation on the second bonus will, of course, depend on the valuation of the company at the time. The estimated $89.6 million for Cook is based on the company’s share price, which was recently given a boost due to increased intrigue for the next big smartphone.
The iPhone 8 could cost as much as $1,500, according to certain tech writers who closely predict the prices of other Apple products.
“But I think $1,200 is quite likely as the starting price, with the high end model at $1,300 or 1,400,” John Gruber, a tech blog publisher and user interface designer, explained in blog post posted in July. The most widely publicized price projection, though, appears to be $1,000 for the new device.
While both the iPhone price and Cook’s bonus are for now educated estimates, the two figures are fairly connected. The more interest the iPhone 8 garners, the higher the likelihood Apple’s stock rises, in turn raising the price of the shares Cook owns. Also, the more interest the iPhone 8 receives, the more likely the company is able to sell massive amounts of the product, sequentially causing both Apple’s and Cook’s portfolios to inflate.
Facebook CEO Mark Zuckerberg has made an extremely immense amount of money since the inception of his company, but it seems as it’s even more so in recent years. Zuckerberg raked in $22 billion in just the last year, while his average since Facebook officially went public in 2012 is $9 billion a year.
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