Tim Cook to Receive $750 Million Worth of Apple's Stock This Week

[MacRumors]

Days after celebrating his tenth anniversary at Apple's helm, Tim Cook is poised to receive a whopping $750 million of Apple's stock this week as the final installment of his pay deal with Apple, put in place over a decade ago when he took over the company, Bloomberg reports.

The installment will consist of 5 million shares of Apple's stock, equating to be around worth $750 million, according to Bloomberg. Last year, Cook received restricted stock units worth up to $114 million, ensuring he'll remain CEO until at least 2025.

Cook, aged 60, has a net worth of roughly $1.5 billion according to Bloomberg's Billionaires Index. Though a billionaire, Cook's compensation for 2020 was among the most modest compared to other high-paid tech CEOs. In 2020, Cook received $14.7 million, according to SEC filings.

The CEO has said in the past he donates a portion of his salary and compensation to charitable organizations and plans to give most of his wealth away.

Article Link: Tim Cook to Receive $750 Million Worth of Apple's Stock This Week

 

[jonnysods]

Holy cow!!

I couldn’t fathom being given $10k - he must have some incredibly talented accountants.

 

[dapa0s]

Well deserved.

 

[jclardy]

Lol, perfect image. Time to pass it off to a successor soon?

 

[scottinlexky]

time for him to go.

 

[TheYayAreaLiving 🎗️]

Wow! Well deserved! Good job Tim. But can we please get a new CEO now.

 

[testcard]

As a sideline, Tim could probably fund his own space programme.

 

[AngerDanger]

That is such a good image choice, @samifathi ?

The way his shirt blends in with the background makes him look like he's supposed be chroma keyed, though.

 

[MrDerby01]

ah.. ok. we are all placed in the same box in the end. Maybe once this guy is finally out apple can be creative again and a company people could look up to again for creativity.

 

[benshive]

Well deserved.

I support Cook as CEO but I have to disagree. I don't think paying one man such an insane sum of money is ever deserved. I'm glad he plans to give most away though. He's certainly doing much better than other wealthy CEOs in that regard.

 

[dlondon]

Same day as speculation that the cost of the iPhone 13 will be higher this year!

 

[Powerguru]

Just a amazing guy!

 

[Gwea22]

That’s a grotesque amount of money for one person to have.

 

[samifathi]

That is such a good image choice, @samifathi 🤣

Thank you! Carefully chosen.😆

 

[richman555]

He might be able to retire early! Hopefully Apple is ready to move on.

 

[Braderunner]

Wow! Well deserved! Good job Tim. But can we please get a new CEO now.

Make up your mind! If it’s well deserved…he’s doing a great job. If he should be replaced…then, he’s not doing a good job.

 

[nwcs]

Just another ivory back scratcher to him. But at least he can now afford the extra, extra fancy potato chips.

 

[peneaux]

Now he can retire and work only in his political causes!

 

[Freeangel1]

RIP OFF!
Steve Jobs worked for a whole lot less and ran the company so much better.
Steve Jobs was reported to be taking as little as $1 a year salary. He was compensated in Stock.




When Jobs sold NeXT to Apple in 1997, he received 1.5 million Apple shares. But he sold them to protest the company's appointment of Gil Amelio as CEO only a few months later. Plus, from 1997 to 2011, Jobs made an annual salary of just $1 at Apple.

 

[infiniteentropy]

He's clearly doing his job: earning revenue and returning value to shareholders.

I just don't like what Apple has become as a consequence of his excellent execution of that job.

 

[Mr. Dee]

It has even increased in value, because I remember a decade ago the vested amount was supposed to be 600 million. He really has worked for it though.

 

[now i see it]

but I wonder if he's happy

 

[transpo1]

Great choice of pic. Now do your job, Tim, and get rid of this CSAM disaster that’s tarnishing Apple’s reputation for privacy.

 

[ghostface147]

Well I guess he can finally buy me dinner.

 

[zapm]

Steve Jobs was reported to be taking as little as $1 a year salary. He was compensated in Stock.

Did you even read the title of the article?