Apple CEO Tim Cook’s total compensation for the year 2023 amounted to $63.21 million, reflecting a notable decrease of almost $36 million compared to the previous year, as indicated in the company’s proxy filing with the US Securities Exchange Commission. Despite maintaining a consistent salary of $3 million (₹25 crore) for the third consecutive year, Cook’s total earnings saw a decline, primarily attributed to changes in stock awards.
Taking over the reins of the tech giant after the demise of founder Steve Jobs, Cook was granted stocks valued at $46,970,283 (₹389.25 crore) in the past year. Non-equity incentive plan compensation accounted for $10,713,450 (₹88.78 crore), while other compensations totaled $2,526,112 (₹20.93 crore). Consequently, Cook’s overall compensation for 2023 reached $63,209,845 (₹523.83 crore), a significant decrease from the $99,420,097 (₹823.91 crore) he received in 2022.
Apple Vision Pro Launch and Tim Cook’s Reflections
Simultaneously, Apple is preparing for the debut of its mixed reality headset, the Apple Vision Pro, scheduled for release in the United States on February 2, with a retail price of $3,499 (₹2.89 lakh). Positioned as a tool for immersive FaceTime conversations, gaming, video, and productivity applications, the Vision Pro represents Apple’s first foray into a new hardware category since the introduction of the smartwatch in 2015.
“It’s been a remarkable year. In 2023, we made history by introducing the world to Apple’s first spatial computer, Apple Vision Pro — a revolutionary product that seamlessly blends digital content with the physical world, opening a whole new dimension for our users,” remarked Cook in the regulatory filing.
Apple’s Foray into Augmented Reality
With the Vision Pro, Apple joins the augmented and virtual reality headset market, entering into competition with Meta Platforms Inc. and other industry players. The device promises to offer users an unparalleled experience, combining cutting-edge technology with Apple’s trademark design and innovation.
In the ever-evolving landscape of technology, Cook’s leadership at Apple remains instrumental, steering the company through shifts in compensation structures and groundbreaking product launches. As the Vision Pro hits the market, Apple continues to push the boundaries of what is possible in the realm of spatial computing and augmented reality.
