This is especially odd considering the US has an effective corporate tax rate of less than 20%
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Apple CEO Tim Cook Sells Over $50 Million Worth of Stock
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I feel sorry for those kinds of people as every waking moment, no matter who it is, is simply a business transaction.
Yes I guess for them life is one big p***ing contest which would most likely create some interesting personality traits.
Too address your question about the money, I don't think it's kept anywhere so to speak, more like Tim has an account and a line of credit/assets/wealth or whatever the economists call it that Tim has a receipt for, and when he needs use it he requests how ever many million he wants transferred to whichever institution etc etc. A far as the insurance goes, I have no idea how the hell that would work and could not imagine the legality of large sums of that calibre when making a claim????
I've only met a couple over the years that have made "enough" money so they could enjoy an early retirement, nothing in the league that this article mentions, but I'd hope there'd be more of them out there.
Right... Another person who thinks they could replace Cook believing he doesn't do anything important. That naivety always cracks me up.
How about, just for starters, Cook setting company strategy/policy/direction and being responsible for Apple's 164,000 employees being happy, well compensated, etc and motivating them to create outstanding tech products Apple's 1 Billion active (and repeat) customers love to purchase, resulting in Apple being one of the most successful tech companies on the planet.
That just scratches the surface as to what Cook does.
anybody keep their money in BANK OF AMERICA????????????
THEY GOT HACKED YESTERDAY.
ZERO DOLLARS in many accounts. From New York To California.
Warren Buffet sold 8 Billion of their Stock!
another bankrupt Bank??????
www.yahoo.com
THEY GOT HACKED YESTERDAY.
ZERO DOLLARS in many accounts. From New York To California.
Warren Buffet sold 8 Billion of their Stock!
another bankrupt Bank??????
Bank of America is down: Users report their accounts showing empty balance during widespread outage
Nearly 20,000 customers reported having trouble accessing their accounts
Agree that is a false duality, never said it wasn’t (for those reading this and curious, appreciated if you see my full reply which got cut short for the “keys outside analogy”, likely because it as long)
Hard disagree on deciding which is worse between blind cynicism vs blind obedience, I take no side easily on any.
Blind obedience has gifted us with all sorts of holocausts, mass murders, infinite wars and countless horrible things over the decades after all.
Apple’s CEO Tim Cook became a billionaire in the 10th year leading the tech giant and has given away shares worth hundreds of millions of dollars as charity.
“Fair share” is exactly how much? A few facts, not that you’ll actually care about facts because “fair share” people never do.
The top 1% pay an average tax rate 8 times higher than the bottom 50%
The top 1% pay nearly 50% of ALL income tax.
The top 50% pay almost 98% of ALL taxes.
The bottom 50% essentially pay no income tax.
So exactly what would be more fair? Fair is everyone pays the same rate. You don’t want fair. It’s already unfair in that 50% of the people are holding up the other 50%.
But facts won’t matter to you.
Another fact, the 20% capital gains rate he’ll pay (it’s higher than 15% for higher sums) he’ll pay a higher RATE than 90% of all income tax filers.
anybody keep their money in BANK OF AMERICA????????????
THEY GOT HACKED YESTERDAY.
ZERO DOLLARS in many accounts. From New York To California.
Warren Buffet sold 8 Billion of their Stock!
another bankrupt Bank??????
Bank of America is down: Users report their accounts showing empty balance during widespread outage
Nearly 20,000 customers reported having trouble accessing their accounts
Calm down. The issue has reportedly been resolved. It appears to have been some sort of online/mobile app glitch, not hacking.
It seems to me that at this point it's just numbers on a scoreboard, and the goal is to run up the score. I don't recall seeing stories of Tim Cook owning multiple empty mansions or multiple yachts, so it's certainly not going to lifestyle. (I did find it humorous that part of his compensation is in a 401(k), as if at that kind of wealth a 401(k) has any material impact on his retirement.)
The other thought is generational wealth, but as has been pointed out, he has no kids.
The last thought is philanthropy. Maybe the money is going to some good cause we don't know about, or has plans to distribute it to good causes when he passes.
Just my thoughts.
It was reported in 2015 that Tim Cook plans to donate the vast majority of his wealth to philanthropic causes. After taxes, the $50 million and a lot more will eventually go to charity.
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How did I know this thread would be filled with people saying "how much money is too much"? How much money did he make for private shareholders, pension funds, and institutional investors?
Because of insider trading rules, top executives have to plan and announce their future stock sales years in advance. This is how executive compensation is structured. It has nothing to do with his needs in the moment.
Depends a lot on whether the USA ends up with a President who thinks tariffs don't raise prices.
Virtue signalling at its finest. What else is he supposed to do with that amount of wealth? He is an insufferable a$$hole.
Being such a charitable guy, I wonder how much he gave the writer of DOS, that he bought for a song (and stitched up Microsoft with), after he became a Billionaire?
At 26% profit margin, life is good in Los Gatos. Meanwhile, back in Lizard Spit Arizona, I found a pre-fab salad on sale at Sprouts. 💸
Just another rich CEO that won't help the retail employees make a livable wage. Retail employees live pay check to pay check. Tim does not care. Corporate greed.
Apple CEO Tim Cook will soon be $50 million richer after selling 223,986 shares of Apple Stock, earning him a total of $50,276,076, according to an SEC filing. Cook was originally granted the stock as part of performance-based award based on Apple's shareholder return relative to other S&P 500 companies, and he often sells stock in October.
Earlier this week, Cook was granted an additional 219,502 shares of Apple stock. 54,876 shares are set to vest in one-third increments in April of 2027, 2028, and 2029. 164,626 shares are performance-based and will vest on October 1, 2027. Depending on Apple's performance between fiscal 2025 and fiscal 2027, between 0 and 200 percent of the target number of shares can vest.
The total bonus will depend on Apple's total shareholder return relative to other companies in the S&P 500 over the next two years.
As of early 2024, Cook owned over three million shares of Apple stock, along with an additional 1.3 million unvested RSUs. Cook's unsold stock is worth over $500 million, and stock grants make up the majority of his total compensation.
In 2023, Cook's base salary was $3 million, but he also received $47 million in stock awards, $10.7 million in performance-based bonus awards, and $2.5 million in other compensation, such as 401(k) contributions, term life insurance premiums, vacation cash-out, security expenses, and personal air travel expenses.
Article Link: Apple CEO Tim Cook Sells Over $50 Million Worth of Stock
