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Certainly not outrageous for running a 3 Trillion Dollar company. Many CEOs make exponentially more for running companies that lose money.
 
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Apple's board of directors will be very happy with Apple's performance under Tim's leadership.
 
I wonder how effective bonuses are at that salary level? If you have that level of wealth and income, you're hardly going to go out of your way to do something for an extra $10.7 million, as crazy as it sounds. You'd go out of your way to do it because that is the sort of person you are and that is how you got the job in the first place, I guess, but you probably don't do it for a few more million that you could never spend... "Hey, good news, I got the bonus! All that extra work paid off. Now I can buy, umm..., well I can't think of anything I want that I don't have." It must be a strange life, but good luck to him! And one way or the other I suspect he will do a lot of good with his money before he dies.
 
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I wonder with all of that money and power and the ability to do anything and buy anything and go anywhere you literally want to if he is actually a happy person that enjoys his life.
I have always believed that people adjust to their circumstances in terms of happiness (if not, there would be riots everywhere, daily). In other words, so long as you have the basic necessities, health and friends (if you want them), the guy sweeping the street, or whatever, probably feels no more or less happy than the CEO having 5 holidays per year with first class flights etc. In my own life, in material terms I am far better off than when I was 21. In some ways, my job now is much easier too despite the responsibility. But the point is, I do not feel any more "happy" because of all this. It is a kind of equilibrium. In some ways it take more in my present circumstances to make me happy than it used to, and it takes less to make me unhappy. The things I dreamt of do not make me any happier than when I dreamt of them! If you cut out extremes of poverty and misfortune, I am sure that is that same for most people. I would very much doubt that Tim is "happier" day to day most of us are, despite having orders of magnitude above our wealth.
 
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A tiny fraction of what Jobs would have been earning if he were alive. Cook only owns a tiny share of Apple. Jobs also owned a massive share of Disney after the Pixar merger.
 
as a CEO he is excellent.
I am saying that from my experience of being a chairman of a board (finances).
 
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I have always believed that people adjust to their circumstances in terms of happiness (if not, there would be riots everywhere, daily). In other words, so long as you have the basic necessities, health and friends (if you want them), the guy sweeping the street, or whatever, probably feels no more or less happy than the CEO having 5 holidays per year with first class flights etc. In my own life, in material terms I am far better off than when I was 21. In some ways, my job now is much easier too despite the responsibility. But the point is, I do not feel any more "happy" because of all this. It is a kind of equilibrium. In some ways it take more in my present circumstances to make me happy than it used to, and it takes less to make me unhappy. The things I dreamt of do not make me any happier than when I dreamt of them! If you cut out extremes of poverty and misfortune, I am sure that is that same for most people. I would very much doubt that Tim is "happier" day to day most of us are, despite having orders of magnitude above our wealth.
Very true. As humans, we are programmed to want more. Once we get what we want, we find new things to want. This leads us to live a life in an illusion of happiness being getting what we want, which means we will never reach it. It is also why billionaires never get "enough". Even if they stop wanting money, they still want more success, which is typically quantified by money.

We can teach ourselves to go against our human nature, but it takes a conscious effort, and practice. Just like we can teach ourselves to eat less fat and sugar even though it is in our biological nature to stuff ourselves with it when we see it. The first step is realizing that it is possible, rather than believing that it's not worth fighting your instincts. It also requires you to focus on what you are working towards, rather than what you are stepping away from. "Boy, I would like to have some nice, fresh, juicy pineapple" is a lot more compelling than "Uh, I really shouldn't eat that chocolate bar".

Once you teach yourself that happiness does not lie in the things you buy, you will find joy in simpler things. Like spending time with your family, if you have one. One thing that is very common among so-called successful people, in business or sports for that matter, is that they are successful at the expense of family and friends. And I have yet to hear 70 year old person wish they spent less time with the family and more time working (not counting poor people who couldn't afford to feed or school their kids).

This is the one thing that I am sceptical about in your post - a CEO having "5 holidays per year with first class flights" (unless you by that mean "days"?). It's a lot more likely that they are working 15 hours a day, at least 5 days a week but usually more, with a couple of days off around christmas.

Also, don't forget that at this level, when you see a CEO in a bar or at a sports game, it is very likely that he/she is still working. He will usually have colleagues and/or clients or suppliers around him. Even at my common level, when I am on a business trip my family thinks it's all just a glorified holiday in fancy hotels and expensive bars. The fact is that when I am sitting in a bar at 1AM with two clients, I am not off. I am working. It may be much more comfortable than stamping metal at the car factory, but it's still work, and your brain is not off. I do sometimes envy people with simpler jobs, who can just walk out at 4PM and not think about work until the next morning.

And if you think that you will be able to settle, as soon as you just reach the next level and get that new house, you are living the illusion. Keep in mind that millions of people in the world would consider a New York taxi driver to be filthy rich. If you are able to read this, you are well enough off to be able to be happy with what you have, if that's what you calibrate your mind to be.

Usually, when so-called "rich" people (which is in the eye of the beholder) seem happy, it is because they love their work. Not because of the money that work brings in. From the outside, we think we would be as happy if we had their salary, but we won't. We would be happy if we could also work with something we love (which I happen to do, for which I consider myself lucky).

By the way:

 
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I agree with you. There is no need for any human being to have more than about 7 million, which is enough to live on comfortably for a lifetime.
That's a completely arbitrary number, which is purely based on your definition of "comfortably". What is "comfortably"? A roof over your head and food to eat every day? Or someoone to bring you food so you don't have to make it yourself? Do you need to stop working, or do you just need to be able to choose what you work with? Do you just need a car, or do you need a car with aircondition? Massage seats? Private chauffeur? Do you need a car at all?

Does "living comfortably", which most people consider to be "not having to work", make you happier?

As mentioned above, it's in our nature to want more. No matter which arbitrary number you decide on, the first step is to acknowledge that you will be able to "settle" in the first place.

Interestingly, where I live which is a country that is on average more expensive to live in, the accepted number by the financial experts that work as consultants if you win the lottery, to be able to stop working and live off the winning, is about half that.
 
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Keep up the bad work!

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If Tim gave up $50 million from his salary and shared with Apple's 160,000 employees, it would add each a little over 300 bucks annually. I say, let him keep it! LOL
Hmmm, can we add a decimal in there?

- Asking for a friend who is an Apple employee
 
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Actually the 7 million number was based on a study done in the UK, and includes a pretty good definition of comfort.
Well, without a source, it's not very easy to evaluate whether I agree with that definition, is it?

I feel I have a pretty good level of comfort, if someone told me I could be guaranteed my current standard of living for the rest of my life, I would probably take that deal. That includes owning my own newly renovated house large enough for 5 people, and driving a brand new Mercedes C-class. Assuming an average return of investment for long term investments, and the average long term inflation, I could have a fortune of 2-2.5 million dollars and live off the investment returns for the rest of my life. The interests minus inflation would equal my current salary plus inflation. For my wife to also stop working, she of course would need the same amount, so you could argue that if you only count one person to pay for the whole family, it doubles, and then it's closer to your estimate. I'd still argue that it is arbitrary though, I can also be happy with a Hyundai.

Edit: After doing my own math, I googled it and it seems like the 25x yearly salary that I ended up with, is exactly what is apparantly commonly quoted. So I feel pretty justified in arguing that your number covers "I don't have to think about money", not "I don't need to work".
 
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I have always believed that people adjust to their circumstances in terms of happiness (if not, there would be riots everywhere, daily). In other words, so long as you have the basic necessities, health and friends (if you want them), the guy sweeping the street, or whatever, probably feels no more or less happy than the CEO having 5 holidays per year with first class flights etc. In my own life, in material terms I am far better off than when I was 21. In some ways, my job now is much easier too despite the responsibility. But the point is, I do not feel any more "happy" because of all this. It is a kind of equilibrium. In some ways it take more in my present circumstances to make me happy than it used to, and it takes less to make me unhappy. The things I dreamt of do not make me any happier than when I dreamt of them! If you cut out extremes of poverty and misfortune, I am sure that is that same for most people. I would very much doubt that Tim is "happier" day to day most of us are, despite having orders of magnitude above our wealth.

My question wasn't if he is happier than other people. My question was that if he is happy at all.
 
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