By Kevin McSpadden
January 23, 2015

Apple CEO Tim Cook’s total pay for 2014 was $9.22 million, more than double the financial compensation he received the year before.

Cook earned a salary of $1.75 million and his non-equity incentive compensation was $6.7 million, reports Bloomberg. His 2013 pay package was $4.25 million, according to files sent to the U.S. Securities and Exchange Commission on Thursday.

The pay increase comes after a highly successful 2014 in which Apple’s company value exceed $700 billion and the price of stocks rose above $119 per share, according to Bloomberg.

The boost comes amid optimism surrounding new products such as the iPhone 6 Plus and Apple Pay.

Cook succeed Steve Jobs as head of Apple just months before the company’s enigmatic founder died of pancreatic cancer.

[Bloomberg]

Contact us at editors@time.com.

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