$58 Million Annually for Apple’s New CEO

John Ternus officially entered a new phase in his career at Apple by assuming the role of Chief Executive Officer in early September, coinciding with the approval of a compensation package worth up to $58 million for the fiscal year 2027, according to The Wall Street Journal.

The package includes a base salary of $3 million annually, along with stock-based bonuses that could reach $55 million, with a portion of the awards tied to the company’s financial performance.

Ternus will also receive additional stock worth $2.5 million for the remainder of fiscal year 2026, during which he will lead the company.

In return, Tim Cook will remain affiliated with Apple after stepping down as CEO through a new position on the board of directors, with an annual salary of $2 million and stock-based bonuses worth up to $45 million in the upcoming fiscal year.

The leadership transition to Ternus marks the second change at the helm of Apple since 2000, following Cook’s assumption of the role in 2011 after succeeding Steve Jobs.

Cook began his tenure as CEO with an annual salary of $900,000, which the board raised to $1.4 million a few months later, according to a previous report by Forbes.

Despite the significant difference between his initial salary and Ternus’s current compensation package, Cook received a grant of one million shares upon taking office, valued at approximately $376.2 million at the time.

As for Jobs, he was known during his leadership of the company for accepting a symbolic annual salary of just $1, while holding 5.5 million shares in Apple, valued at billions of dollars.