Tim Cook Receives $47M Package as Apple’s New Executive Chair
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Tim Cook has been awarded a $47 million (£35 million) remuneration package as Apple’s executive chair, positioning his compensation close to that of his successor in the chief executive role.
Cook, who transitioned the chief executive role to John Ternus on Tuesday, will receive a base salary of $2 million alongside $45 million in stock awards. Performance metrics will dictate half of the equity grant, while the remaining portion will vest over four years.
Ternus will earn a $3 million base salary complemented by a $55 million stock award, which features a higher proportion tied to performance targets.
In 2025, Cook’s total compensation as chief executive surpassed $74 million. Holding more than 3 million Apple shares, Cook is recognized as a multi-billionaire by Forbes, which projects his net worth at $3 billion.
By comparison, Apple co-founder Steve Jobs drew a nominal salary of $1 annually, though his net worth reached $7 billion at the time of his passing—largely driven by a substantial stake in Disney acquired through the sale of Pixar.
Cook assumed the chief executive position in 2011 after proving his capabilities as an operations expert. During his tenure, Apple’s market capitalization surged by 2,200%, growing from approximately $350 billion to nearly $4.7 trillion.
Having established Apple’s sophisticated global supply chain, Cook hands leadership over to a 51-year-old veteran engineer who previously directed product development as senior vice president of hardware engineering.
In his former position, Ternus managed the engineering teams responsible for Apple's complete hardware portfolio, notably the iPhone division that drives the majority of corporate revenue. Market analysts expect the transition to bring fresh hardware innovations and deeper integration of artificial intelligence across the product ecosystem.
Ternus is set to make his major public debut as leader at Apple’s annual iPhone unveiling on September 9, where industry observers anticipate the announcement of a foldable smartphone alongside updated Apple Watch and AirPods models. However, recent reporting from Bloomberg indicates that rumored AirPods featuring integrated cameras are not slated for an imminent release.
As executive chair, Cook will focus on global government affairs, navigating corporate relations with Donald Trump, and managing key diplomatic connections in China, a critical manufacturing hub. He emphasized Apple’s product strategy in a final staff memo issued Monday.
“I will miss leading you and being with you for every step, even as I take enormous comfort in handing the helm to someone as brilliant and wonderful and capable as John,” he said. “Few people understand what it takes to build products that change the world the way John does.”
