Status: 08/27/2021 3:34 p.m.
Tim Cook monetizes the final stock tranche of a bonus agreement with his employer Apple. The Apple boss is suddenly 750 million dollars richer.
For Apple CEO Tim Cook, the good development of the iPhone manufacturer’s share has paid off. Cook had received five million Apple titles as part of a bonus agreement. It stipulated that the total return per share for investors in the past three years, plus any dividends, had to be in the first third of the companies listed in the S&P 500 index by August 24 of this year.
Cook succeeded in doing this with a return of almost 192 percent, because the technology group reached 13th place. Cook had concluded the agreement on bonus payments in the form of company shares when he took up the post of CEO at Apple in 2011 as the successor to Steve Jobs. Jobs sold the majority of his shares for a price of $ 750 million, according to a statement from the US Securities and Exchange Commission.
Cook wants to give away his money
The manager has been responsible for the Apple group since August 24, 2011, to the delight of many investors: the share has gained more than 1200 percent over the past ten years. The company’s market value is now around $ 2,500 billion.
Tim Cook has also amassed wealth during this time. According to Forbes magazine’s billionaire rankings, he currently has a fortune of $ 1.4 billion, which is 2263 in the global rankings for the 60-year-old.
Cook had announced years ago that he would donate a large part of his fortune before his death. According to recent SEC data, he donated ten million dollars in Apple shares to an unknown recipient last week.