Imagine of the most profitable tech firm. And the odds are the first name that comes in your mind will be Apple. Or maybe Google! With a market valuation of a gigantic $879 Billion, Apple is truly best of the best in the Silicon Valley.
Yet, curiously the most valuable firm in the world does not make the profit when it is the question of being present in the “billionaires’ club.” As per the Bloomberg Pay Index, Apple astonishingly does not represent outstandingly. The Bloomberg Pay Index ranks the top-paid senior officials at public US firms. Art Levinson, the Apple chairman, is the only person that is present in the list. And as the index observes, his stock in Apple adds up for only 20% of his fortune worth$1 Billion. For the record, Levinson had served as CEO and chairman at Genentech Inc. and also has an early share in Google.
What may be a shock is that Tim Cook, the Apple CEO, has fortune of “just” $600 Million. The difference between compensation and revenue to officials appears surprising. So, how does the most precious firm all over the world makes so less billionaires?
Cook supposedly takes $3 Million salary at home and also has a target bonus of $6 Million. His various major sources of reward arrive from a limited stock of $376 Million that he got when in 2011 he substituted Steve Jobs. This limited stock was also believed to finance him for a decade.
Recently, a federal jury this week awarded VirnetX (the Internet security company) hefty compensation after Apple was discovered to have breached VirnetX copyrights associated to safe communication in its iMessage, VPN On Demand, and FaceTime services. As per the local media, which previously posted related to the verdict, VirnetX is at liberty to get $502.6 Million in compensation for the supposed infringement.