Tim Cook got a $750M payload for serving as Apple’s CEO for 10 years. It was part of a deal he struck when he took over from co-founder Steve Jobs.
Based on Apple’s filing with the SEC, Mr. Cook was eligible for the award as the company’s shares had risen by 191.83% over the last three years. It also noted that Apple’s share price had increased 1,200% since he became chief executive on 24 August 2011. According to calculations from Bloomberg, Cook raked in cash after acquiring and selling 5.04 million Apple shares.
News of his bonus came a year after Tim Cook achieved billionaire status. His current net worth is $1.5 billion with an annual salary of $3 million or Rp43 billion. Last week he was also reported to have donated 7,000 shares in Apple worth $10.4 million to an identified organization.
According to Fox Business, Cook has previously donated millions of Apple shares and said he plans on giving away most of his wealth.