when americans are spying on their grocery budget and Postpone major life expensestheir employers are granted record breaking salary. Some of the highest-paid CEOs can watch American workers’ annual salaries hit their bank accounts in just a few hours. take appleof Tim CookFor example, he makes more than the average American in less than a day’s work.
appleToday, the company is a $4.1 trillion tech giant that has come a long way since its public debut 45 years ago. Under Cook, the company has become the world’s second most valuable company — and his compensation reflects that.
cook annual Compensation increases to $74.6 million in 2024, an 18% increase from $63.2 million the previous year. His dizzying honey pot includes $58.1 million in stock awards, $12 million in non-equity incentive plan compensation and $1.5 million in other compensation.
Although he is one of the highest-paid CEOs in the world today, his current salary is nowhere near what he once earned. In 2022, Cook gets Nearly US$100 millionLargely due to stock awards, his pay dropped the following year amid backlash from Apple employees and shareholders.
Compared to the average American’s salary, the difference is huge. With $74.6 million in earnings, it would take Cook only about seven hours to earn more than the average American worker, who earns just $62,088 a year. according to First quarter 2025 wage data from the BLS.
In the 30 minutes it takes most people to get to the office, Cook has made $4,256 — more than most Americans have saved as emergency savings.
Although it may take decades for Americans Save money to buy a housethe Apple CEO can afford it in just one weekend. According to a recent report, it took Cook just 2.15 days to earn $439,000, the median price of a home in the United States. CEO compensation tool from resume.io.
Even buying your own company’s products, which are luxury goods for most and cost thousands of dollars, is hardly an expense. In just 21 minutes, Cook made enough money to buy a $3,000 MacBook Pro; in less than eight minutes, he could buy an iPhone Pro 17 worth $1,100.
The highest-paid CEOs in America — and how Cook compares
Cook is one of the highest-paid CEOs in America, but he’s not the only one make headlines His high salary.
Tesla leaders and richest people in the world Elon Musk Just Got a $1 Trillion Compensation Package Heating back and forth The consulting firm implored shareholders to reject the exorbitant compensation. It was an unprecedented approval that sparked criticism of the growing gap between rich and poor. rich and poor in the world.
Musk is just one of many CEOs whose bank accounts are under scrutiny. 2024 Highest paid CEOs Leading a major multi-billion dollar US public company Rick Smith. CEO of $45.5 billion defense technology company axon Take home $164.5 million, according to Analysis by Equilar, an executive compensation consulting firm.
Smith was followed by Jim Anderson, CEO coherent, Who made $101.5 million last year. at the same time, Starbucks‘ Brian NicolEarned $95.8 million, GE Aerospaceof Larry Culp took home $87.4 million, and Ares Managementof Michael Arugetti It was followed by fifth place with $85.4 million. On that list, Cook ranks seventh among the highest-paid CEOs, following Microsoft leader Satya Nadella Has $79.1 million.
Of course, there are other CEOs running private companies (who are not required to disclose CEO salaries) who also take home eight-figure salaries. In addition to direct compensation, it’s not uncommon for leaders to receive billions of dollars from their investments.
October, LVMH CEO Bernard ArnaultSee his wealth skyrocket After the company released a breakthrough earnings report, its market capitalization hit $19 billion overnight. And the month before, then——Oracle CEO Safra Katzof Leap of wealth As the tech company made a breakthrough this year, going from $400 million to $3.4 billion in just six hours, according toForbes.
U.S. income inequality is growing
America is Most billionaires in the world and at home Changing wealth dynamics are not lost on Those who live paycheck to paycheck. In July this year, after-tax wages for the lowest-income group in the United States increased by only 1.3% year-on-year, down from 1.6% last month. according to this Bank of America graduate School.
Meanwhile, wages for top earners rose to 3.2% over the same period – the third consecutive month of increases. The change marks the largest wealth gap between low- and high-income households in four years.
“In a sense, we’ve had some improvement in low-income wage growth since the pandemic, but now that’s reversed,” said David Tinsley, the firm’s senior economist. Bank of America graduate School, Tell wealth August this year. “Wealth inequality was shrinking and now it’s widening.”
Even Americans who earn enough to be considered “wealthy” are putting off major life purchases.
According to a 2025 report, about 47% of six-figure earners are postponing their dream vacations and trips, 31% are postponing home renovations, and 26% are postponing buying or leasing a new car Report from Define capital.
The American dream of owning a house with a white picket fence is also on hold for now. About 17% are postponing buying a house, and 6% are even postponing marriage.