Tim Cook’s newly revealed payday revives Silicon Valley exit talk

This week’s pay disclosure keeps Apple CEO Tim Cook among the highest-paid executives in corporate America, reigniting debate over California’s proposed billionaire tax and a potential Silicon Valley exodus.

Apple CEO Tim Cook earned whopping $74.3 million in total compensation last year, according to the company’s 2025 annual proxy filing, released this week.

And although the pay package has dipped slightly year over year, the CEO still received a massive equity worth $57.5 million in stock awards.

Add in a $3 million base salary and a $12 million in performance-based incentive compensation (tied to Apple’s predetermined financial results) and, well, not too shabby.

Another $1.76 million fell under “other compensation,” covering retirement contributions, vacation cash-outs, security services, and personal air travel expenses in the amount of $789,991 and another $887,870 for security expenses.

Apple requires Cook to fly privately for both business and personal travel for security reasons, a detail that has become a recurring footnote in the company’s filings.

The rest of Apple’s executive bench also walked away with enormous payouts in 2025.

Several senior leaders, including General Counsel Kate Adams, COO Sabih Khan, and Retail and People SVP Deirdre O’Brien, each pulled in roughly $27 million for the year, also largely fueled by stock awards.

CFO Kevan Parekh earned just over $22 million, while former CFO Luca Maestri took home $15.5 million.

Miami or bust

Fast forward to California’s proposed ballot initiative to impose a one-time 5% tax on fortunes exceeding $1 billion, and the room is suddenly quiet.

The measure, which includes a retroactive residency provision, has reportedly triggered plans for several tech billionaires to cut ties with the state.

Financial advisers note that even a few percentage points in additional taxation can translate into hundreds of millions of dollars.

Miami, in particular, has emerged as the destination of choice, according to a report by The New York Post.

Real estate brokers there are quoted as saying there has been in an influx of ultra-wealthy founders from companies like Google, Netflix, WhatsApp, and Stripe quietly touring luxury properties in recent months.

Google co-founder Larry Page has already made headlines after snapping up roughly $173 million in waterfront property in South Florida’s Coconut Grove, amid previous plans to cut ties to The Golden State.

However, not everyone is bolting. Nvidia CEO Jensen Huang has publicly said he’s staying put and is unbothered by the proposed tax, while others are betting the measure won’t survive a statewide vote.

Still, the timing of compensation disclosure is quite interesting as the world watches to see if Miami will be the next Austin, Texas and leave California in the dust.

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