Apple CEO Tim Cook Receives $750 Million as Payout
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The Chief Executive Officer of Apple Inc Tim Cook has received a payout of five million shares after 10 years in his position
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According to Bloomberg, the received payout is worth more than $750m and a watchdog has confirmed that the Apple boss has sold most of the shares
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At the moment, Cook is worth $1.5 billion and the Apple CEO has pledged to give away his entire fortune during his lifetime.
Apple CEO Tim Cook has received more than 5 million shares as he clocks 10 years at the helm of the company’s affairs.
The award received is a part of a deal that Cook struck when he took over from co-founder Steve Jobs.
The award was based on how well Apple’s shares soared in comparison to that of other firms on the S&P 500 stock index.
Apple’s filing with the US Securities and Exchange Commission (SEC), Cook was eligible for the award as Apple shares skyrocketed by 191.83% in the last 3 days.
It is worth noting that Apple’ shares prices have witnessed a 12 times increase since Tim Cook took over as the CEO of the company.
Read also: Elon Musk Reveals Shocking Secret About Jeff Bezos’ Retirement
The addition to his fortune means that Tim Cook now has a net worth of $1.5 billion, according to Bloomberg Billionaire’s index.
An SEC filing shows that the Apple CEO donated $10 million from his round to a charity last week although he didn’t list the recipient.
Cook has also promised to donate his entire fortune to charity organisations before he dies.
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