Apple CEO Tim Cook earns a year’s average US salary in just 7 hours

Cook’s annual salary in 2024 grew 18% from $63.2 million in 2023, putting his earnings in stark contrast to the average American’s. In the 30 minutes most Americans spend commuting to work, Cook earns $4,256, more than the typical American’s emergency savings, according to Fortune.

While it may take years for Americans to save for a home, Cook can afford one after just one weekend. In just 2.15 days, he earns $439,000, which is the median price of a U.S. home. Within 21 minutes, Cook can earn enough to buy a $3,000 MacBook Pro, and in less than eight minutes, he can afford an $1,100 iPhone Pro 17.

Cook’s current compensation is lower than what he earned in 2022, when his pay package approached $100 million, largely due to stock awards. Apple described the payout as recognition for Cook’s "exceptional leadership" and the "unprecedented value" he brought to shareholders. However, in 2023, following feedback from Apple employees and some shareholders, his pay was adjusted downward.

Apple CEO Tim Cook after meeting with Indonesian President Joko Widodo on April 17, 2024 in Jakarta. Photo by AP

In comparison, Elon Musk’s record $1 trillion pay package approved by Tesla shareholders in November dwarfs Cook’s compensation. To put this into perspective, $1 trillion exceeds Switzerland's annual GDP, estimated to be just under $900 billion in 2024. According to CNN, if Musk spent $40 every second, it would take 792.5 years to deplete his fortune.