septembre 25, 2021

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Tim Cook paid a $750 million bonus after presiding over Apple’s stock price rally | Business news

Apple chief Tim Cook has received a bonus of more than $750m (£547m) after spending 10 years at the tech giant.

The CEO of the world’s most valuable public company acquired five million shares to head a massive 191.83% increase in An appleThe stock price in the past three years, according to a recent regulatory filing.

Mr. Cook The depositor said he has now sold nearly all of those shares for a quarter of a billion dollars.

Apple’s stock price has exploded in recent years, outperforming most of the stock market and making Apple the $1 trillion first listed company.

The California-based business is now valued at $2.5 trillion.

When he took over as CEO from Steve Jobs in 2011, Cook agreed to a long-term incentive plan that would give him shares each year if Apple met certain goals.

Since then, Apple’s stock price has risen 1,200%, exceeding all targets set when Cook became CEO on August 24, 2011.

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Cook took over as Apple’s president in 2011

Last year, the CEO received a bonus of $282.8 million, Pushed his net worth to over a billion dollars. It’s a rare example of a tech billionaire who has reached this position as an employee, without setting up his own company.

Jamie Dimon, CEO of JP Morgan Chase, and Sheryl Sandberg, Facebook social networking siteChief Operations Officer, both achieved the same distinction.

In 2015, Cook pledged to give away his entire fortune before his death, joining the likes of Warren Buffett and Bill Gates who have made similar pledges.

Mr. Cook told Fortune that he would fund his nephew’s education before donating his fortune to charity.

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Two causes close to his heart are the prevention and treatment of HIV/AIDS, as well as Climate changeHe said – he told the magazine that he had already quietly started to donate.

“You want to be the pebble in the pond that creates waves of change,” he said at the time.