Apple CEO Tim Cook just gained another massive $355 million. The recent addition to his wealth has significantly impacted the Apple CEO's net worth. Tim Cook just reportedly cashed in the final part of his massive decade-old compensation package!
Apple CEO Tim Cook
According to the story by Mashable, Tim Cook, Apple CEO after the late Steve Jobs, has just cashed in the final part of the CEO's decade-old compensation package. This means that Tim Cook's compensation package included 5,040,000 Apple shares which are worth roughly about $750 million.
According to an official SEC filing that was dated on August 24, 2021, Apple had actually withheld 2,653,560 shares for tax purposes. Cook then quickly sold the rest, which meant that the CEO was able to receive a whopping $355 million!
Tim Cook Gets Apple Stock
Cook had previously received the compensation package from Apple back in August 2011. This is when Tim Cook took the helm of Apple. The number of shares that the Apple CEO would receive was reportedly tied to his performance and was measured by the performance of Apple stock. Not only is Jeff Bezos the richest retiree, he is also the richest man alive and has claimed that spot for quite a while.
The stock did perform well, going up from roughly about $13.50 back in August 2011 up to the stock's current price at $147.54. This is with Apple becoming the largest company globally that currently has a market cap of a whopping $2.44 trillion. While millionaires used to come mostly from business, YouTubers are starting to pop out as well, with people like Jeffree Star currently at a net worth of $100 million.
Tim Cook After Steve Jobs
It wasn't exactly an easy task, however, as Tim Cook had to replace one of the best CEOs of all time, Steve Jobs, who reportedly died due to complications that came from pancreatic cancer.
Apple CEO was sometimes criticized for lacking the whole innovative drive that it had in the whole Steve Jobs era, according to an article by the Economist.
At the moment, it's also quite hard to argue against Cook's results when it comes to the market. According to an article by BBC, in 2020, Tim Cook actually signed a brand new compensation package which runs through 2026.
Tim Cook Net Worth
Cook, however, was already considered a billionaire even before this particularly significant payout. Tim Cook currently has a net worth of about $1.5 billion, according to Bloomberg. He said back in 2015, he planned to give his net worth to charity.
According to a Google search, his worth is now at $1.4 billion and although this might not be close to Jeff Bezos or Elon Musk, being in the billionaires club alone is already quite significant. Steve Jobs previously had a net worth of $10.2 billion at the time of his death back in 2011.
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Written by Urian B.
