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Apple chief executive Tim Cook gets $750m payout

bbc.com

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Re: Apple chief executive Tim Cook gets $750m payout

#61

Post by DasIch »

vmurthy wrote: post #38

From the article : "In 2015, Mr Cook said he would give away his entire fortune before he dies, and is known to have donated tens of millions of dollars to charity". Success during one's life , paying it back to make the society a better place once gone. Take a bow, Mr Cook. What more can one ask for in a lifetime :)

Rich people spend money on charities they like. They change society the way they want it to change that does not necessarily make society a better place nor is it necessarily what most people want.

If he had to pay all of this on taxes, society could decide how to use that money and it would be just as much, if not more "a better place".

Re: Apple chief executive Tim Cook gets $750m payout

#62

Post by jollybean »

vmurthy wrote: post #38

From the article : "In 2015, Mr Cook said he would give away his entire fortune before he dies, and is known to have donated tens of millions of dollars to charity". Success during one's life , paying it back to make the society a better place once gone. Take a bow, Mr Cook. What more can one ask for in a lifetime :)

What is the point of grabbing surpluses and then handing them back?

Re: the note above about Foxconn workers, Cooks money comes from the market power developed by Apple which they can leverage on everyone in the system, consumers, workers, suppliers, distributors etc..

So he can leverage against Foxconn workers and then give $1B to charity - or he could not leverage, and double Foxconn workers wages. And that's just his comp, not everything else.

Now - maybe there is a theoretical greater efficiency in his charity work, and of course it's spent on 'his interests' not others, etc..

But the notion of 'giving it away' doesn't make a whole lot of sense unless that giving is frankly more effective than otherwise.

I think Gates Foundation for example is reasonable - a lot of philanthropy is effective in ways that governments and regular private corps are not - that makes sense.

But from a purely charitable perspective, it does seem a little bit odd to accumulate in one column on the ledger in order to put it back in the other column.

Re: Apple chief executive Tim Cook gets $750m payout

#65

Post by lostinquebec »

rglullis wrote: post #59
beckman466 wrote: post #46

So according to this 2018 article by The Verge [1], Foxconn workers producing iGadgets in China earn on average $390.16 per month. Times that by twelve and we find that workers earn $4,681.92 per year on average. If we divide Tim's $750,000,000 bonus/payout this year by that $4,681.92 yearly Foxconn salary, we get 160,190 My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of…

When will we learn to stop making these silly calculations about "productivity" and understand that people are paid not by the value of their work, but by their scarcity? Any factory in China can replace most of their 160k employees overnight if they wanted to. How many Tim Cook's do you have lying around?

.. and how many Ballmers!

Re: Apple chief executive Tim Cook gets $750m payout

#66

Post by chii »

Thaxll wrote: post #41

No matter how big is Apple is today, $750m is an obscene amount of money. Don't understand people that can justify that.

> Don't understand people that can justify that.

well, the owners of apple (the shareholders, via the board) decided that it is justifiable, and fair. Other people, unrelated to this commercial agreement between Cook and apple, have no real say. Nor should they.

Re: Apple chief executive Tim Cook gets $750m payout

#67

Post by mellavora »

spottybanana wrote: post #58
beckman466 wrote: post #46

So according to this 2018 article by The Verge [1], Foxconn workers producing iGadgets in China earn on average $390.16 per month. Times that by twelve and we find that workers earn $4,681.92 per year on average. If we divide Tim's $750,000,000 bonus/payout this year by that $4,681.92 yearly Foxconn salary, we get 160,190 My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of…

> My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of Foxconn’s total workforce? [2] /s Nobody has been making these productivity claims to begin with, but leftists commonly use productivity vs salary to ridicule CEO compensation. CEOs are paid for numerous reasons, for example board wants to trust the person with billions worth of assets which makes it sensible to pay cer…

Wait-- so paying large amounts stops greed from taking over? I wonder how that is working for them.

though you have a valid point, CEO pay isn't about CEO productivity, it is about corporate productivity.

Re: Apple chief executive Tim Cook gets $750m payout

#68

Post by humppadumppa »

I just simply cannot agree with anyone who believes that 10 years of work is worth $750 million. Even if the thinking is that doing the correct decitions is worth much more to the company, I will still just simply refuse to accept that this level of compensation is right on the larger context of human society.

Re: Apple chief executive Tim Cook gets $750m payout

#69

Post by akie »

spottybanana wrote: post #58
beckman466 wrote: post #46

So according to this 2018 article by The Verge [1], Foxconn workers producing iGadgets in China earn on average $390.16 per month. Times that by twelve and we find that workers earn $4,681.92 per year on average. If we divide Tim's $750,000,000 bonus/payout this year by that $4,681.92 yearly Foxconn salary, we get 160,190 My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of…

> My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of Foxconn’s total workforce? [2] /s Nobody has been making these productivity claims to begin with, but leftists commonly use productivity vs salary to ridicule CEO compensation. CEOs are paid for numerous reasons, for example board wants to trust the person with billions worth of assets which makes it sensible to pay cer…

You are justifying someone being paid $750m. No one needs that much money. No one. Why are you defending this? It's obscene.

Really reminds me of this https://i.kym-cdn.com/photos/images/original/002/147/150/e2c...

Re: Apple chief executive Tim Cook gets $750m payout

#70

Post by Grustaf »

beckman466 wrote: post #46

So according to this 2018 article by The Verge [1], Foxconn workers producing iGadgets in China earn on average $390.16 per month. Times that by twelve and we find that workers earn $4,681.92 per year on average. If we divide Tim's $750,000,000 bonus/payout this year by that $4,681.92 yearly Foxconn salary, we get 160,190 My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of…

Put it this way. In the last 5 years Tim Cook has created $1900 b in shareholder value. If you divide that by 160000 you get $12 m. Now I don’t know how many phones a foxconn worker can make per year, but I do think it’s fair to assume they do not each create much more than $2 m in value annually.

Or another way to see it. While creating 2 trillion dollars of value for shareholders, he has been paid about 1.5 b. As a shareholder I think that’s very fair compensation.

So relative to value creation, nobody can claim that he’s overpaid. A deeper questions is if it’s reasonable for anyone to own a billion dollars. I don’t think so, but Tim Cook has deserved the money more than most.

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