Apple's Tim Cook just made $355 million.

Apple's Tim Cook just made $355 million

The billionaire CEO gets even richer.

Apple CEO Tim Cook just cashed in the final part of his decade-old compensation package: 5,040,000 Apple shares, worth roughly $750 million.

According to a SEC filing dated Tuesday, Apple withheld 2,653,560 shares for tax purposes, and Cook quickly sold the rest, meaning that he actually received around $355 million.

Cook received the compensation package in August 2011, when he took the helm of Apple. The amount of shares he would receive was tied to his performance, measured by the performance of Apple stock. And perform it did: Apple's stock price went from roughly $13.50 in August 2011 to its current price of $147.54, with Apple becoming the world's largest company, with a current market cap of $2.44 trillion.

It wasn't exactly an easy task, though: Cook replaced one of the greatest CEOs of all time, Steve Jobs, who died due to complications from pancreatic cancer. And while Cook's Apple was sometimes criticized for lacking the innovative drive that it had in the Jobs era, it's hard to argue against Cook's results in the market.

According to the BBC, last year Cook signed a new compensation package, which runs through 2026.

Cook was already a billionaire prior to this last payout, with a current net worth of about $1.5 billion, according to Bloomberg. Cook said in 2015 he plans to give away most of his wealth to charity.

More in Apple

Comments

  1. Good, I was worried about him for a minute

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    1. yup. glad to know that he got the living wage he's been asking for

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  2. Spends 1 grand on a phone. complains about how the company has more money than them.

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  3. Not sure why people are jealous of what others do?

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  4. Paid over 50% percent tax. That’s something.

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  5. Hi dude, now solve world hunger and I’ll be actually impressed.

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    Replies
    1. he actually donates millions of dollars every year..

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  6. Would you buy a used car from a guy like that?

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  7. https://giphy.com/gifs/moodman-very-cool-SVH9y2LQUVVCRcqD7o

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  8. Good. Now pay your fair share of AMERICAN taxes. You Apple hoarder!

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  9. “Timmie Apple” keeps winning.
    How can I get a certified copy of his personal @IRSnews returns? Analyze the winners.
    You got to be in it to win it, I suppose…

    https://giphy.com/gifs/thank-you-tim-cook-TLm3ig25UPL7roCPLC

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  10. I wonder how many off-shore accounts he has so he can minimize his tax exposure?

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  11. The product is not as good as when Steve Jobs was in charge.

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  12. Can he donate $1 million dollars to me

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  13. I guess all the angry emojis are coming from Windows and Android users 🤭😂

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    Replies
    1. oh! Here's a pretty serious one

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    2. https://media1.tenor.co/images/c7c07e9e352328a28e37c6b3c7f10ee9/tenor.gif?itemid=7513882&fbclid=IwAR3LEzHu0gOG--5CeVJu1c9xO4fRsPZ1aJxswYHbMO5AaSN2Ao65FeXwsKQ

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    3. https://media1.tenor.co/images/b65b3c5a0f9ba8df7f6f1b5526153caf/tenor.gif?itemid=10818519&fbclid=IwAR3ZFDBGBmYozzrl4phqeAaCh8cnbZ6Go6GdlG_mqE-LRlPnfbpPcRMbflI

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  14. Wonder why things cost to much

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  15. This is why workers get the shaft. :(

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  16. If he ever cares about doing a random generous thing, I could use an RV to live in the rest of my life. Just say'n

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    Replies
    1. Dying in a RV alone s a tragic thing. It happened to my brother.

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    2. sorry, I just don't want too die alone in an apartment building.

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    3. I've lived my entire life alone

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    4. And I had two brothers and two sisters growing up

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  17. Guy can definitely afford his own cookie

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  18. I literally got poorer reading this post, fck it!

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