Tim Cook, The CEO Of Apple, Will Be Paid $750 Million.
Key Sentence:
- Apple CEO Tim Cook attends the second season of “Ted Lasso” at the Pacific Design Center in West Hollywood, California, USA.
- Mr. Cook’s Payment Description was part of the deal he made when he took over from co-founder Steve Jobs.
- Apple CEO Tim Cook has received more than five million shares for the tech giant’s tenth anniversary.
A company filed a complaint with the US Securities and Exchange Commission (SEC) revealed that it sold most of its shares for more than $750 million (£550 million). This was part of the deal he struck when he took over from co-founder Steve Jobs.
The prize depends on how well Apple’s stock performs compared to other S&P 500 stock index companies. According to Apple’s statement to the SEC, Mr. Cook is eligible for the award because the company’s stock has increased 191.83% over the past three years.
He also noted that Apple’s share price had increased 1,200% since he took office on August 24, 2011. Last year, Mr. Cook approved a new pay package that runs until the end of 2026. An SEC document also reveals that Mr. Cook donated nearly $10 million worth of stock to Apple to charity earlier this week, without naming the recipient.
In 2015, Mr. Cook said he would donate all of his fortunes before he died, and he is known to have donated tens of millions of dollars to charity.
Mr. Cook often speaks publicly about his concerns about HIV and AIDS, climate change, human rights, and equality. He tracked down other wealthy American business people who said they would distribute all or most of their wealth throughout their lives.
In 2010, Microsoft co-founder Bill Gates also investment veteran Warren Buffett founded the Giving Pledge, asking billionaires to give away at least half of their wealth.
Earlier this year, Buffett donated an additional $4.1 billion to his Berkshire Hathaway charity.