r/technology • u/geoxol • Jan 13 '23 • Bravo! 1 Helpful (Pro) 1

Apple CEO Tim Cook to take more than 40% pay cut Business

https://apnews.com/article/technology-apple-inc-tim-cook-business-d056553b10120c4a968b562cb7ece5d2
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u/Anthonyhasgame Jan 13 '23 edited Jan 13 '23

It’s nice to see CEOs prioritize the company over themselves. This should offset some costs of China manufacturing slowdowns and moving chip manufacturing to the US. They’re also more prepared for any future issues because of that. Good move, wish we saw more of it.

2

u/zaviex Jan 14 '23

This won’t change a single financial for apple because he wasn’t actually getting cash from the company. It was stock compensation. They don’t have any more cash because they cut his pay. Apple doesn’t release stock currently so it has no impact on the bottom line

-13

u/tromboneamafone Jan 13 '23

This was most likely only done for him to avoid taxes... not out of any generosity.

11

u/akkaneko11 Jan 13 '23

How could taking a paycut reduce taxes? It's not like that's a writeoff

-2

u/itrivers Jan 14 '23

If you earn less then you have less taxable income therefore reducing your tax bill. The logic is undeniable.

3

u/Mosquito_Bites_Back Jan 14 '23

You also.. earn less

1

u/Bforte40 Jan 14 '23

Wow, much logic, so smart.

2

u/itrivers Jan 14 '23

Do I need to include the /s for the smarties like yourself?

7

u/zeions Jan 13 '23

Maybe you could cut down your salary to $0 so you can avoid paying taxes this year.

2

u/tromboneamafone Jan 13 '23

I won't, but Steve Jobs, Mark Zuckerberg, Elon Musk, Jack Dorsey, Larry Ellison, Larry Page, and others have all done this for tax, among other, reasons.

1

u/Anthonyhasgame Jan 13 '23

Alternative is Apple would probably lose money and make layoffs like every other tech company. Those CEOs didn’t take pay cuts they just cut off people. So, I’ll take what I can get, and support things that are steps to a better norm.

1

u/NutInMyCouchCushions Jan 14 '23

You’re comment is stupid.

his salary is $3M. salaries are taxed, as are investments when cashed out.