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In Executive Pay, a Rich Game of Thrones
07 Apr 2012 EDT - The New York Times
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Is any CEO worth $1 million a day?

That’s roughly $42,000 an hour. Or $700 a minute. Or $12 a second.

Think of it this way: In the time it took to read those words, you could’ve pocketed $100. Finish this article and — well, you do the math.

At Apple, the answer to that question is an emphatic yes, and then some. Not since Steve Jobs has a chief executive at Apple, or any other public American corporation, for that matter, been as richly rewarded in stock as Timothy D. Cook, who succeeded Mr. Jobs as chief executive last August, a few months before Mr. Jobs died.

Mr. Cook was paid a cash salary of roughly $900,000 in 2011. On its own, that would have been a ho-hum paycheck for a top American CEO in recent years.

But then came a wild extra, a one-time award, in the form of Apple stock. It was initially worth a staggering $376.2 million. As of the end of last week, it was valued at roughly $634 million, reflecting Apple’s soaring share price.

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