Unknown Apple CEO earns 16 times more than Tim Cook - E24

Heard about Peter Oppenheimer? He is Apple’s chief financial officer – and one of the highest paid people.

Last year secured Oppenheimer in compensation worth $ 68.6 million – nearly 400 million, writes Bloomberg.

Finance Director, who worked in the Apple system since 1996, thus earning 16 times as much as the boss, Tim Cook, who received $ 4.17 million.

Director since 2004

Oppenheimer was appointed CFO of the world’s largest IT company in 2004. Last week he was the mastermind behind Apple’s outrageous bond.

company issued bonds worth 17 billion dollars (about 100 billion). This despite the fact that Apple is sitting on a money bin corresponding 140 billion dollars (811 billion).

reason is that a significant portion of Apple’s cash is overseas. Canadian tax rules means that it is cheaper to get money from bonds than to bring money to the United States.

ALSO READ: Records 100 billion in bonds

Shares rally

Over the years he has been CFO, Apple and the stock had huge success. The stock has risen nearly 5,000 percent and has continually set new records.

On Friday, the stock traded at $ 456.77 in pre-trading on Wall Street.

E24 EXCHANGE: Check stock here

• Share
• Long Name: Apple Inc.
• Ticker: AAPL
• Market: NAS
• Organiasonsnummber:
• TSID:
• Trade time: 2013-05-09 10:00:00 p.m.
• Last: 456.77
• Close: 460.79
• Period: 7days

Stock Options

The hefty compensation makes Oppenheimer the highest paid CEO in American business.

His counterpart at Oracle, Safra Catz, cut into 51.7 milliseconds opens dollars last year, while Google’s chief financial officer, Patrick Pichette, scoops $ 38.7 million.

Most of the Oppenheimers salary consists of stock options that only triggered if he is in the company foreseeable future .

pay out 100 billion

In April delivered IT giant a better result than analysts envisioned, while the Company announced that it will double payouts to shareholders.

Towards the end of 2015, Apple to pay $ 100 billion (just under 600 billion) to shareholders through various programs.

That’s more than double what was planned. The news came to the company’s quarterly report for the second fiscal quarter.

ALSO READ: Pays out 100 billion

Beating Expectations

Apple just managed to beat analysts’ expectations for earnings in the first quarter.

Apple posted a profit of $ 10.09 per share, compared with an expected profit of a little over nine dollars.

revenue totaled $ 43.6 billion, compared with an expectation of 42.33 billion.

same period last year the company delivered a profit of $ 12.3 share, with revenue of 39.19 billion dollars.

While the result was better than expected, yet it was the first time since 2003 that Apple’s profit fell from one quarter to the next.