Apple CEO Tim Cook, the billionaire who leads Apple has become richer by $355 Million. According to an SEC filing today, he just cashed in the final part of his decade-old compensation package: 5,040,000 Apple shares, worth roughly $750 million.
Apple CEO Tim Cook gets even more richer today
According to a SEC filing dated Tuesday, Apple withheld 2,653,560 shares for tax purposes, and Cook quickly sold the rest, meaning that he actually received around $355 million
Cook received the compensation package in August 2011, when he took the helm of Apple. The amount of shares he would receive was tied to his performance, measured by the performance of Apple stock. And perform it did: Apple’s stock price went from roughly $13.50 in August 2011 to its current price of $147.54, with Apple becoming the world’s largest company, with a current market cap of $2.44 trillion.
Cook was already a billionaire prior to this last payout, with a current net worth of about $1.5 billion, according to Bloomberg. Cook said in 2015 he plans to give away most of his wealth to charity.