Apple’s Tim Cook Ranked Highest Paid CEO in 2011

Tim Cook - APApple is worth more than 500 billion dollars, so it’s no surprise that the CEO of the company, Tim Cook, was the highest paid CEO in 2011. Cook famously took the reigns of the company beginning in 2011, when Steve Jobs was out on medical leave.

Just how much was Cook paid? According to the Wall Street Journal, when he became CEO in August, Apple gave him a pay package worth approximately $378 million dollars.

Almost all of his compensation came in the form of restricted stock, worth $376.2 million dollars at the time. The restrictions prevent Tim Cook from immediately selling his shares, and are contingent on his continued employment at Apple. He can sell half of his shares in 2016, and the other half in 2021.

That stock has since grown in value, and is now worth a total of $530 million dollars. Apple has said that it considers the shares compensation for the next 10 years of work rather than just payment for 2011.

Larry Ellison, founder of Oracle Corp. was the second highest paid CEO in 2011, receiving a total of $76 million in the form of stock bonuses and stock options.

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