Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Tim Cook Sells Nearly 200,000 Apple Shares

Marzzz said:
A few years back on a cycling trip I met an early employee of Microsoft; he sold his shares when they reached a value of $500,000; if he had held on to them he would have been a billionaire…
Click to expand...
Ha. I know a guy who inherited some money (not a ton, but the most he had ever had at one time). He went to a financial adviser to invest it. He got a lot of advice and did mainly the set of investments that the adviser recommended. However, a piece of the money went into Microsoft. This is a long time ago, so he had to tell the financial advisor what Microsoft was as the advisor had never heard of it. There was much skepticism displayed in that meeting, but he stood firm that some money would go into MS. That one moment and one decision changed his family's life. They never became rich (because he was largely a relatively unsuccessful actor for his entire life), but whenever the family needed money over the following decades, they just sold off a piece of MS. And the next time they needed money, the MS stock was worth more than before they sold a piece.
 
With him being ceo bet this was a 10b5-1 election and often it is meant to diversify your portfolio.
 
ThomasJL said:
The reason Tim Cook is so good at making money is because he doesn't care even a small fraction as much as Steve Jobs did in giving value to customers in terms of providing the highest-quality and most user-friendly products. Cook cuts as many corners as possible, provides as little to customers as possible, while simultaneously raising prices. Cook is the best CEO to shareholders precisely because he is an awful CEO to customers.
Click to expand...
Yeah, and Apple's customers are apparently so dumb that they continue to throw money at Apple despite their products sucking so hard, right?

Is that the only explanation you can all come up with for the reason as to why Apple continues to be as successful as they are today? That customers are stupid, and need to be saved from themselves by government intervention? :rolleyes:
 
  • Like
Reactions: I7guy
you mean he paid nearly 50% in taxes? so he pays MORE taxes than I do and I make less than he does? so much for the wealthy not paying taxes hahahaaaaa
 
Something fundamentally doesnt seems right. Since this is stock that was earned it should be considered a long term capital gain so his tax rate should be at the most 20% not near 50%. Even if its considered a short term gain, assuming it was just issued and cashed out under a year, it would be a foolish move since if he keeps the stock for a year and one day its taxation drops to 20%. Im sure he had other apple stock that he has held on to qualify as a long term capital gain. Just feels like this story is off. Assuming the story is correct you are looking at gross incompetence from a financial and taxation standpoint.
 
Student of Life said:
Something fundamentally doesnt seems right. Since this is stock that was earned it should be considered a long term capital gain so his tax rate should be at the most 20% not near 50%. Even if its considered a short term gain, assuming it was just issued and cashed out under a year, it would be a foolish move since if he keeps the stock for a year and one day its taxation drops to 20%. Im sure he had other apple stock that he has held on to qualify as a long term capital gain. Just feels like this story is off. Assuming the story is correct you are looking at gross incompetence from a financial and taxation standpoint.
Click to expand...
The tax liability comes from the shares vesting, not from them being sold. When they vest they are taxed as ordinary income, not as capital gains. Mr. Cook would owe income taxes on the value of these shares whether he sold them or not. It’s the same as if he’d received cash as compensation instead of the shares.

Then there’s a capital gain or loss when the shares are sold based on the change in value after the shares vested. In this case the shares were sold the day after they vested and Mr. Cook had a small capital loss on them because the share price decreased slightly.
 
tonywalker23 said:
The other week I bought a single share of Apple stock. I did that after feeling disgusted… I found a calculator online where you put a product price and purchase date and it tells you how much it would be today in stock.

the powerbook g4 12" I bought in 2003, my first Mac, would be worth 1.3 million dollars today
Click to expand...
If you bought $1000 of Microsoft shares, and $1000 of Apple shares, on the same day that Tim Cook took charge of Apple, the Microsoft shares would be worth ~$17,000, and the Apple shares ~$13,000.

The thing is, there has been a massive stock market boom in that time, particularly in tech, and Apple has not been the standout performer by any means.
 
MikeSmoke said:
Tim Cook already gave away half the money in taxes before spending one penny.
Click to expand...
He didn’t. Like the other billionaire crooks, he pays only capital gains tax on his earnings. It’s a slippery slimy way to get out of paying income taxes. Our taxes are higher because these crooks don’t pay income taxes. And only suckers fall for the line that the rich pay enough in tax. They don’t. But they’ll gladly agree with you n
 
Polinsky said:
It's amazing that the Apple haters find a way to criticize everything. He donates to charity and people find a way to turn it into a bad thing. If you're going to be cynical, at least do it honestly.
Click to expand...
I love Apple. I hate tax cheats. If he and the other billionaire crooks paid income tax on ALL of their earnings, we wouldn’t need charities in the first place. And your taxes would be lower. But no, let’s keep this sick cult of worshipping the rich going. They are laughing all the way to the bank.
 
User 6502 said:
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.
Click to expand...
Jobs took credit for other people’s work all the time. Let’s not exaggerate. You think he was in there programming the original iPhone and soldering chips into it? Come on. In terms of inspiring people, what more are you looking for from the guy? He’s put gifted people who inspire their departments into the jobs they are in for a reason. And he was hand picked by Jobs. So you’re saying that Jobs was a genius in everything he did, but somehow didn’t know what he was doing with the single most important decision he made at the end of his time at Apple? He very clearly made the right choice because it is pretty unlikely that Apple’s massive success is in spite of the fact that Cook has been the CEO for the last 13 years and has to be at least in part because he has been the CEO all this time.
 
UnusedLoginID said:
Ha! You must not live in the Bay Area. For a guy like Tim Cook, a small mansion on 1ac in Atherton will cost him more than that. So "a few houses" (plural), I don't think so!
Click to expand...
I don't, but I also don't believe he's buying multiple houses in the SF area fwiw.
 
Black Tiger said:
Yep. 1 trillion dollar company on the verge of shutting down forever. Makes total sense.
Click to expand...
Obviously, total over-clarity is needed here to not make people think for themselves, as some people obviously can't understand jokes. From my perspective it was enough with that emoji to indicate that.
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back