Apple CEO Tim Cook is set to receive a $750 million stock award this week. The payout is the final part of a deal struck a decade ago when Cook took over for Steve Jobs.
The haul consists of about 5 million shares worth roughly $750 million, according to calculations by Bloomberg News. Part of the payout is contingent on Apple’s stock return over the past three years surpassing at least two-thirds of companies in the S&P 500 — a threshold the iPhone maker cleared by a wide margin.
Cook currently has a net worth of about $1.5 billion. Under his watch, Apple’s revenue has over doubled and the company’s market value has surpassed $2 trillion.
Back in 2015, Cook announced that he would give most of his fortune away.
Source link
