Apple CEO Tim Cook will this week collect the 10th and final tranche of the pay deal, worth some $750 million, that he received a decade ago after he became the company’s CEO.
Cook has been the chief executive officer of Apple Inc. since August 24, 2011. Cook previously served as the company’s chief operating officer under its co-founder Steve Jobs who passed away after a long battle with just six weeks later on October 5, 2011 after a long battle with pancreatic cancer.
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.
Apple’s soaring stock price has allowed Cook, 60, to collect top payouts year after year and made him a billionaire. He currently has a net worth of about $1.5 billion, according to the Bloomberg Billionaires Index.
The Apple executive said in 2015 that he plans to give most of his fortune away…
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