Apple CEO Tim Cook Gets Apple Stock Worth $750 Million
Since Cook became CEO, Apple stock has gone up over 1,200%.
According to an SEC filing posted by Apple Thursday, the company’s CEO, Tim Cook, got more than 5 million shares of Apple stock this week. He sold most of the stock for over $750 million.
When Cook took over as CEO of Apple 10 years ago, he received a compensation package. The share of stock is the final part of that package. He got a new one last year and it runs through 2026. (He has said he doesn’t believe he’ll be CEO of Apple in ten years.) He got the largest amount of stock he was eligible for under the original 2011 agreement, according to CNBC.
Since Cook became CEO, Apple stock has gone up over 1,200%. In fact, the company has hit a lot of milestones. In January of this year, Apple reported a record-breaking $111.4 billion in revenue in its first-quarter earnings report.
That was the first time the company had earned over $100 billion in a single quarter and sales were up 21% year over year. Cook said at the time that the revenue would have been even bigger if the pandemic hadn’t closed the company’s physical stores.
Another SEC filing from earlier this week revealed that Cook donated nearly $10 million worth of Apple shares to a charity that was not named. He has said in the past he plans to donate his entire fortune.