Tim Cook is poised to earn a $2 million salary and stock awards with a target value of $45 million in his first year as Apple's executive chairman.

Investors paid 15 times earnings for Apple stock the day Tim Cook became CEO in 2011 and they pay 36 times today. It’s not just new iPhones that have convinced investors to pay a premium. Under Cook, buybacks shrank the share count by more than 40 percent while the multiple more than doubled.

Tim Cook leaves behind a $4.6tn corporate machine, an unrivalled consumer ecosystem and a record of extraordinary political dexterity.