Apple CEO Tim Cook has received a bonus worth around $ 750 million for his tenth anniversary at the helm of the US technology giant.
The 60-year-old received more than five million Apple shares and sold them for $ 751 million, according to a document filed with the US Securities and Exchange Commission.
Cook had been awarded the stock options in 2011 when he replaced the ailing Apple founder Steve Jobs as CEO. It was stipulated that Cook would only receive the shares after ten years. Around 1.1 million of the shares were linked to the price development between 2018 and 2021. The value of the shares of the iPhone manufacturer tripled in the time, Apple is now valued at more than 2.4 trillion dollars.
According to the document filed with the SEC, Cook still owns approximately 3.2 million Apple shares with a current value of $ 483 million. The business magazine “Forbes” estimates the total assets of the CEO at around 1.4 billion dollars.