Hi, this is Wayne again with a topic “The gEnErOsItY of Tim Cook”.
Foreign, let’s move on to our uh. Oh this is oh. This is a big topic. Praise Saint cook, hero of the people, uh Tim Cook, voluntarily takes a 40 pay cut. On Thursday Apple announced that CEO Tim Cook would be taking a 40 pay cut, going from 84 million dollars last year to just 49 million dollars this year.
Okay, I don’t really know if I like your attitude. This is some pretty sad right here: how’s Tim Cook’s family going to have generational wealth. Now this decision was made after the company’s board committee. I mean it doesn’t sound like an excited committee.
I guess they get to talk about how much more money Tim Cook makes than them. The decision was made after the company’s board committee on executive compensation, balanced shareholder feedback, Apple’s, exceptional performance and a recommendation from Mr cook. Okay for real, though uh to adjust his compensation in light of feedback received, uh Tim’s annual basic salary will remain three million dollars with a bonus of up to six million dollars. Uh.
What’S changing? Is his stock award Target which will be cut to 40 million, as opposed to the 75 million that he received last year? Uh last year, Apple apparently wanted to pay cook a 99 million pay package, but shareholder advisory firm ISS said it was too much. It’S very interesting like once you get into these numbers that are just so far beyond, like any reasonable amount of money. Uh like okay, tell me something Luke, okay, what what? What? What does this work out to even now 49 million dollars a year so that works out to a seventh of a million dollars a day so about about 130 million dollars a day, all right all right? A thousand thousand sorry excuse me, a hundred and thirty thousand dollars a day.
Um yeah can we become a shareholder firm that says too much yeah, that’s advisory, firm, okay, so 130 000 a day Luke. Could you spend a hundred? What was that workout? Two per per waking hour, so so you’re awake for what let’s say: 16 hours. Okay, so you make uh the the about eight thousand dollars a waking hour um, oh man, that was pretty close, nice.
Okay, you make eight thousand dollars an hour. Could you spend eighty dollars in a minute? Could you spend eighty dollars every minute like what kind of food? What kind of food would you eat like how long at the rate that you eat my God, you could never, he could eat Forever on that amount of money he could I mean this guy could eat Forever on, like a thousandth of that, on a a 100 000Th of that got you eat, so slow you’d think he wouldn’t be able to get as big as he is foreign. Oh, oh wow, yeah, you’re gon na be pretty slow at eating. Now, unless you’re eating that look, I’m I’m supposed to be Jay right.
That’S what he would say gets right into it. Oh I’m actually hurting him. I’M sorry anywho! I wan na I wan na I wan na make it clear.
We actually um did praise uh, the late CEO of Nintendo for taking a 50 pay cut uh after the lukewarm launch of the 3DS and the failure of the Wii. U um right like that! It is actually a pretty cool thing for a CEO to take a pay cut when the company doesn’t perform well, because why should? Why? Should other people’s jobs get cut like that stupid? Sad, CEO, talking about like crying about how hard it was to lay people off? If crocodile tears right like how, how much are you gon na cry when it’s your family, that’s worried about where their next meal is going to come from um and to be clear, I’m not saying that I’m some kind of like you know softy. I would never you know fire anyone like that.
That happens, that’s business, but you know when you’re doing it, because the company overall didn’t perform well rolls up a hill like exact the executive team has to has to take accountability for that right, um. The difference is that awada’s basic annual salary was seven hundred and seventy thousand dollars with up to 2.11 million of performance-based bonuses um. It wasn’t three million dollars with six million dollars of bonuses and another 75 million dollars of performance-based bonuses or a stock stock award Target. Um uh Jacobs go says apparently internally at Apple. Everyone spent the entire day mocking him.
I can’t validate that uh. You know I have no idea, but it wouldn’t surprise me like anyway, um so yeah good luck with that Tim um, hopefully your hopefully your private jet payments don’t fall behind. .