Apple CEO Tim Cook will see his income fall by £28 million ($35m) this year after putting himself forward for a pay reduction.
Cook reportedly requested his pay package be cut by 40% after shareholders criticised him for earning 1,447 times more money than the average Apple employee.
While Cook's £2.45m ($3m) basic salary and £4.9m ($6m) bonus will stay the same, he will be awarded far fewer shares in the firm.
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Last year, he was given $75m of shares based on how well Apple did in the stock market, but this will be cut to $40m for 2023.
Cook's actual pay last year came to £81.4m ($99.4m) when you include expenses for personal security and his private jet.
Last year, Apple shareholders were told to vote against Cook getting more money, claiming he was being paid 1447 times more than an average Apple employee is paid.
The value of the tech giant's shares dropped last year amid global economic and supply chain problems.
It shouldn't bother Cook too much, given that he's still being paid an unimaginably large amount of money for one year's work.
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Cook has previously vowed to give away his $112m fortune to charity, and says he has been quietly donating to charity.
Cook's net worth is unlikely to diminish by too much following the move, but it is unusual that he essentially volunteered for the pay cut.
It contrasts heavily with Elon Musk, who recently broke the Guinness World Record for the largest loss of personal wealth in history.
Formerly the world's richest man, Musk lost around £153billion since November 2021 in the face of plummeting Tesla stock.
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