Apple CEO Tim Cook receives $750m payout

Cook has previously committed to giving most of his wealth away

The head of Apple Tim Cook has collected more than 5m shares in the US tech company after spending a decade in the role.

A filing by the company with the US Securities and Exchange Commission (SEC) shows that Cook cashed in on most of the shares for more than $750m (£550m).

- Advertisement -

The payout was dependent in part on the tech giant’s share price outperforming at least two thirds of other companies listed on the S&P 500. Apple surpassed the marker by some distance.

Apple’s surging share price has allowed Cook to profit from massive payouts, bringing the CEO’s wealth to around $1.5bn, as reported by the Bloomberg Billionaires Index.

Since Cook became CEO in August 2011, the Apple share price has risen by 1,200%.

The iPhone manufacturer’s total market valuation now stands at a hefty $2.5tn.

Cooks said back in 2015 that he planned to give the majority of his wealth away and has since donated his shares in the company worth millions of dollars.

Latest News

More Articles Like This

[td_block_15 category_id="58276" f_header_font_family="450" f_ajax_font_family="450" f_more_font_family="450" mx4f_title_font_family="450" mx4f_cat_font_family="450" mx4f_title_font_weight="600"]