Apple CEO Tim Cook Receives $700 Million Bonus Payout from Award
Apple CEO Tim Cook has received more than five million shares for the tech giant’s tenth anniversary. A company that has 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 companies in the S&P 500 stock index.
Apple on Tim Cook Award
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. 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.
The company behind the iPhone, iPad and MacBook is already worth under $2.5 trillion. 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 fortune before he died, and he is known to have donated tens of millions of dollars to charity.
He currently has a net worth of about $1.5 billion, according to the Bloomberg Billionaire Index.
Mr Cook often speaks publicly about his concerns about issues like HIV and AIDS, global climate change , human rights and equality.
He tracked down other wealthy American businessmen who said they would distribute all or most of their wealth over the course of their lives.
In 2010, Microsoft co-founder Bill Gates and investment veteran Warren Buffett founded the Giving Pledge, which asks 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.
Apple CEO Tim Cook received $700 Millions bonus payout from Award which shows his performance and dedication with Apple company.
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