Bloomberg reports that Tim Cook will receive $750 million in Apple stock this week, just days after celebrating his tenth year at the helm of the company. This is the last installment of his Apple pay deal, which was established over a decade ago, when he took control of the company.
Bloomberg reports that the installment will include 5 million shares Apple stock. This would amount to around $750 million. Cook was awarded restricted stock units in the amount of $114 million last year. This ensures that he will remain the CEO until at most 2025.
According to Bloomberg's Billionaires Index, Cook has a net worth approximately $1.5 billion at age 60. Cook's 2020 compensation was modest in comparison to the high-paid tech CEOs. According to SEC filings, Cook earned $14.7 million in 2020.
In the past, the CEO stated that he donated a portion of his salary to charities and plans to give away most of his wealth.
