4. Sam Palmisano, former IBM CEO
Compensation: $31.8 million
In his final year as Big Blue's CEO, Palmisano earned a $31.8 million pay package and steered the company to 4 percent revenue growth and 10 percent gains in net income. His 2011 compensation -- which is nearly equal to the $31.7 million he netted a year earlier -- included a $1.8 million salary, $6.5 million bonus, stock awards worth $14.3 million, $7.6 million attributed to changes in the value of his pension and retention plans, and $1.6 million in perks and other compensation. Palmisano, who remains chairman at IBM, handed the CEO reins to Virginia Rometty, effective Jan. 1, 2012. For 2011, IBM revenue climbed from $95.8 billion to $99.9 billion, and net income grew from $13.4 billion to $14.8 billion.
3. Sanjay Jha, Motorola Mobility CEO and chairman
Compensation: $47.2 million
A threefold compensation increase? That's what Jha got with his 2011 pay package, valued at $47.1 million. His compensation last year included a $1.2 million salary, $1.8 million bonus, equity awards valued at $43.6 million, and $557,992 in perks and other compensation. Motorola Mobility, meanwhile, grew revenue by 14 percent but saw its losses widen in 2011. The company's revenue hit $13.1 billion, up from $11.5 billion in 2010. Its net loss for 2010 was $249 million, compared to a net loss of $86 million in the prior year.
2. Larry Ellison, Oracle CEO
Compensation: $77.6 million
Ellison has been the highest paid tech chief on our list each year since Network World started tracking CEO compensation, but this year his $77.6 million pay package was bested by another tech CEO's enormous windfall (see the next slide for details). Not only that, Ellison was paid less than one of his own henchmen: Oracle President Mark Hurd, whose 2011 pay package is valued at $78.4 million. Nonetheless, Ellison collected a $1 salary, $13.3 million bonus, option awards valued at $62.7 million, and perks worth $1.5 million in 2011. His total pay package grew by 11 percent compared to fiscal 2010, when he received $70.1 million. During the same time period, the company grew revenue by 33 percent (from $26.8 billion in 2010 to $35.6 billion.
1. Tim Cook, Apple CEO
Compensation: $378 million
The bulk of Cook's $378 million compensation package consists of a “promotion and retention award,” valued at $376 million, which he received after being named CEO in August. Cook's pay package also included his $900,017 salary, $900,000 cash bonus, and $16,520 in perks and other compensation. By comparison, former CEO Steve Jobs, who passed away on Oct. 5, 2011, received his customary $1 salary last year and declined any new stock or option awards, as he had for years. In its 2011 fiscal year, which ended Sept. 24, Apple's revenue grew to $108.2 billion, representing a 66 percent increase over the prior year's $65.2 billion revenue. Net income grew to $25.9 billion, a gain of 85 percent compared to $14 billion in 2010.
This story, "Who are tech's 50 highest paid CEOs?" was originally published by Network World.