It depends on what is your metric for success. i doubt Cook would have been able to save the company from bankruptcy as Jobs did, or introduce revolutionary products like Mac, iPod or even iPhone. Cook is just an unimaginative bean counter. Sure he can count beans and make sure they grow, but that’s all he can do and eventually the beans stop growing if you don’t inspire and innovate, and he can’t do these things.
Good for you. How is living life with 18 million in the bank? You did buy them in 2009 after all, right? Right? 😝
Apple was massively profitable while running a complex engineering project that turned out to be a dead end. They persisted in that effort long after many competitors threw in the towel. And even as they closed that project, they found a way to retain 70% of the staff.
Cook joined Apple right after Jobs did, in 1998, on the edge of bankruptcy. As far as we know, we played a critical papel in introducing those revolutionary products you mention. Calling him an unimaginative bean counter sounds quite bold to me.
Some people just have an irrational hate for the man; mostly people who still get their news from mainstream media and are opposed to free speech.
Actually it is said by multiple sources that he has been living for several years in a modest 2400 square foot house near the Apple Campus. He is said to also own a $10M property in La Quinta in southern California, certainly not a mega property by California standards. Cook indicated several years ago that it was his intention to give away his wealth to causes important to him. He has done nothing to lead us to believe otherwise.
Why would it matter anyway?
Lol his multiple homes and yachts wouldn't cost him 16 million a year in taxes and utilities....
As anybody who gives to charity and pays taxes should be aware, when you give money to charity, while it does decrease your AGI it's not like you make out on the deal.
Yes, but because of the capital gains tax, he doesn't have to pay nearly as much as if it were ordinary income.
Explains a lot about their massive drop in quality, QA, and innovation.
Apple's CEO Tim Cook this week sold 196,410 shares of the company's stock, which had a total value of approximately $33.2 million based on the average sale price of the transactions, according to a U.S. Securities and Exchange Commission filing. After taxes, Cook netted nearly $16.4 million from the sales.
Cook received all of the shares that he sold this week as a performance-based stock award. Like other senior executives at Apple, he has a predetermined trading plan to sell company stocks in accordance with insider trading laws.
Cook still owns nearly 3.3 million shares of Apple's stock following the sales, according to the filing. He has served as Apple's CEO since 2011.
In 2015, Fortune reported that Cook planned to "give away all his wealth."
Thanks, Michael Burkhardt!
Article Link: Tim Cook Sells Nearly 200,000 Apple Shares
The value of the vesting shares is treated as ordinary income for tax purposes. So he isn't paying the capital gains rate on that value, he's paying the marginal rate. In this case he'll actually have a small capital gains loss because the value of the shares had dropped a little by the time he sold them. But their entire value at the time of vesting is still treated as ordinary income.
