Apple Inc. (NASDSAQ:AAPL) Chief Executive Officer Tim Cook has been declared the highest-paid CEO in the U.S., per a Bloomberg report of take-home pay for the top 25 S&P 500 CEOs.
Take-home pay, commonly referred to as realized pay, is the total of the values of stock vested and options exercised during the fiscal year, along with cash from salaries, bonuses and perks.
Reportedly, take-home pay for the top 25 S&P 500 CEOs for last fiscal year totaled about $1.65 billion with CEOs in the technology, health care and media industries dominating the list.
Cook made the most of any S&P 500 CEO for the year 2016, despite Apple’s annual revenue declining 7.7% year over year, for the first time in fifteen years, falling from $233.7 billion in 2015 to $215.6 billion in the 2016 fiscal year.
Cook took home $145 million in 2016, primarily from vested stock of 1.26 million shares, valued at $136 million. Those shares were awarded when he took over as Apple’s CEO from co-founder Steve Jobs in 2011.
Meanwhile, Cook was reported to have taken home a pay of $8.75 million in salary and cash awards last year, which ranked him as bottom third of all CEOs in the S&P 500 companies. Notably, this was below his reported pay of $10.3 million in 2015. Cook’s net worth stands at an estimated $785 million.
Netflix (NASDAQ:NFLX) Founder and CEO, Reed Hastings came in a distant second with $106 million as pay for last year. His pay also came almost entirely from exercised options that were granted as early as 2006. According to the report, Netflix shares have surged more than 3,000 percent in the last 10 years.
The remaining CEOs in the top five include John Hammergren of McKesson (NYSE:MCK), while Leonard Schleifer, CEO of Regeneron Pharmaceuticals (NASDAQ:REGN) was ranked fourth. Oracle (NASDAQ:ORCL) CEO Safra Catz finished fifth on the list with $85.92 million as realized pay.