Want to know what the daily routine of a CEO who snagged a colossal annual salary of $102 million looks like? Apple’s Tim Cook has a lot to look forward to in 2018 after last year’s successful iPhone sales which bumped up his annual bonus by 74%. Here’s what the CEO of one of the biggest tech companies in the world does differently which might be the secret to his success.
Apple sales rose by 19% this year
Apple rocked the tech industry in 2017 with its three new iPhone launches that were well-received by Apple fans around the world. Its latest model, iPhone X, made a major contribution to the company’s revenue which skyrocketed after a sluggish year. The sales rose from 74.78 million the previous year to 78.29 – a whopping 19% increase from last year – in the fourth quarter of its fiscal year which ended on 31st of December. The company ended the year with a bang by announcing a net profit of $10.7 billion, which was 19 per cent higher than it was a year ago. Its shares also went up by 3% as a result of the increase in sales.
Apple sold more iPhones, iPads and Macs than in 2016, but almost two-thirds of its total sales came from the iPhone 8, 8s and the latest generation model X. Majority of Apple’s revenue is dependent on the success of its iPhones which face serious competition from other android powered phones which are more economical and have flooded the market, slowing down sales.
A large bonus for Apple’s CEO
Since the CEO of the company’s yearly earnings are tied directly to its success, if Apple makes a large revenue, so does its CEO Tim Cook – and you can tell by the size of his bonus that the California-based tech company had a pretty good year.
Bloomberg reported that Cook scooped up an annual bonus of $9 million on top of his $3.06 million salary and an equity award of $89.2 million bringing his total net income to a whopping $102 million. Cook wasn’t the only one who reaped the rewards of a good sales year for the company; five of the CEO’s lieutenants also received hefty bonuses of $3.11 million each apart from their high salaries and revenue from stocks.
The news was first published on Business Insider who reported that the wealthy CEO made a total of $13 million in 2017 alone including his $3 million base salary along with ‘non-equity incentive’ which basically meant a big, fat bonus for the top executives at the company. But wait – this isn’t all; Cook also raked in an additional $89 million in share earnings.
Despite his vast riches, Tim Cook believes in keeping his personal life private, while putting the entire focus on his company which he took over in 2011. But, despite being a very private individual, reporters have been able to piece together clues revealed by different sources about his every-day schedule.
Tim Cook’s strict morning routine
For someone like Tim Cook, who manages one of the biggest tech companies in the world, he must rise extremely early in the morning to get work done. According to USA Today’s report, the CEO wakes up at 3:45 a.m. every day to almost a thousand business-related emails which he must skim through within the first few hours of rousing.
Cook himself admitted in an interview with ABC that being the workaholic that he is, he makes sure to read majority of the emails he receives daily. Exercise is just as important for Tim Cook as his work. After the routine email check, he hops into the gym as early as 5:00 a.m. for a quick workout session before starting his day. Although, the reports claim that the CEO does not go to the gym at the Apple Campus, simply because he prefers privacy while exercising.
Tim Cook has been tight-lipped about his routine and hobbies so it isn’t clear if he chows down on breakfast regularly but while being interviewed by a New York Times reporter, he did indulge in some scrambled egg whites with bacon – although he said that he prefers turkey – and cereal with almond milk.
A ‘merciless’ CEO
While no one is completely sure about Tim Cook’s breakfast routine, he is definitely known for being absolutely merciless as the head of a company. He gets to work extremely early every day and gathers countless meetings, questions even the smallest details of a project and checks up on employees regularly through email and lunch meetings in the company’s cafeteria. Despite being the first one to arrive at the office, Cook is always the last one to leave.
He has been extremely private about his activities outside the office so its hard to say what the head of Apple does once he leaves the premises. He has admitted to enjoying outdoor activities such as riding his bicycle and hiking. But when it’s half past eight in the evening, it’s time for him to shut everything off and get a solid 7-hour sleep before his early rise the next day.