Tim Cook sold more than $750 million worth of Apple stock

By: Yuriy Stanislavskiy | 27.08.2021, 14:13
Tim Cook sold more than $750 million worth of Apple stock

Apple CEO Tim Cook has received more than five million shares in the tech giant after a decade at the helm of the company.

According to the U.S. Securities and Exchange Commission, Cook sold most of the shares - for more than $750 million. That's part of the contract Cook signed after taking over the helm from Apple co-founder Steve Jobs.

The amount depends directly on how well Apple stock is doing compared to other companies in the S&P 500 stock index. Cook is eligible for the premium, as the company's stock is up 191.83% over the past three years.

Along with that, Apple's stock price has risen 1,200% since Cook became CEO on August 24, 2011.

Last year, Cook signed another similar contractual pay package that spans until the end of 2026. His fortune is currently valued at about $1.5 billion, according to the Bloomberg Billionaire Index.

Cook has donated nearly $10 million in Apple stock to charity, according to documents filed with the U.S. Securities and Exchange Commission earlier this week, without naming the recipients. In public, the boss often talks about his commitment to issues such as HIV, climate change, human rights and equality.

In 2015, the current head of Apple said he would give away his entire fortune before he died.

Source: bbc

Illustration: macrumors