Apple chief executive Tim Cook has received more than five million shares in the technology giant, as he marks ten years in the job.<\/p>\n\n\n\n
A company filing with the US Securities and Exchange Commission (SEC) watchdog shows that he sold most of the shares for more than $750m (\u00a3550m).<\/p>\n\n\n\n
It is part of a deal he struck when he took over from co-founder Steve Jobs.<\/p>\n\n\n\n
The award depended on how well Apple’s shares performed compared to other firms on the S&P 500 stock index.<\/p>\n\n\n\n
According to Apple’s filing with the SEC, Mr Cook was eligible for the award as the company’s shares had risen by 191.83% over the last three years.<\/p>\n\n\n\n
It also noted that Apple’s share price has increased 1,200% since he became chief executive on 24 August 2011.<\/p>\n\n\n\n
The company behind the iPhone, iPad and MacBook now has a market valuation of almost $2.5tn.<\/p>\n\n\n\n
Last year, Mr Cook agreed to a new pay package that runs to the end of 2026.<\/p>\n\n\n\n
A SEC filing also showed that earlier this week Mr Cook donated almost $10m worth of Apple shares to charity, without naming the recipient.<\/p>\n\n\n\n
In 2015, Mr Cook said he would give away his entire fortune before he dies, and is known to have donated tens of millions of dollars to charity.<\/p>\n\n\n\n
He currently has a net worth of around $1.5bn, according to the Bloomberg Billionaire’s Index.<\/p>\n\n\n\n
Mr Cook has often spoken publicly about his concerns over issues including HIV and Aids, climate change, human rights and equality.<\/p>\n\n\n\n
He follows other mega-rich US business people who have said they would give away all or a significant portion of their fortunes in their lifetimes.<\/p>\n\n\n\n
In 2010, Microsoft co-founder Bill Gates and investment veteran Warren Buffett launched the Giving Pledge, which called on billionaires to give away at least half of their fortunes.<\/p>\n\n\n\n
Earlier this year, Mr Buffett donated to charity another $4.1bn worth of shares in his company Berkshire Hathaway.<\/p>\n\n\n\n
2px presentational grey line<\/p>\n","protected":false},"excerpt":{"rendered":"
Apple chief executive Tim Cook has received more than five million shares in the technology giant, as he marks ten years in the job. A company filing with the US Securities and Exchange Commission (SEC) watchdog shows that he sold most of the shares for more than $750m (\u00a3550m). It is part of a deal … Continue reading “Apple chief executive Tim Cook gets $750m payout”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3461","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/posts\/3461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/comments?post=3461"}],"version-history":[{"count":1,"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/posts\/3461\/revisions"}],"predecessor-version":[{"id":3462,"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/posts\/3461\/revisions\/3462"}],"wp:attachment":[{"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/media?parent=3461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/categories?post=3461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tech-battery.com\/batteriesblog\/wp-json\/wp\/v2\/tags?post=3461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}