Tim Cook, CEO of the world’s first trillion-dollar company, Apple, is set to make $120 million in stock alone this week from a run up in shares.
Cook is expected to receive 280,000 shares tied to his position as CEO Friday and an additional 280,000 more if Apple’s stock-market return exceeds at least two-thirds of the firms in the S&P 500, Bloomberg reported Wednesday.
Currently worth about $700 million, about half of Cook’s 560,000 shares were withheld to cover taxes in 2017 while the rest were sold, earning him about $43 million.
Cook makes $3 million in salary as CEO and received a $9.33 million cash bonus in 2017, Bloomberg reported. Cook hasn’t received any equity grants since 2011.
The CEO said he planned on donating his wealth to charity in 2015, The Guardian reported.
“I have a nephew that I dearly love that’s 10, and when I look at him, and when I think of leaving a world that’s not as good as when I entered it, there’s no bigger sin than that,” Cook said of his nephew, for whom he provided an education.
When Cook became CEO after Steve Jobs passed away in 2011, the company was worth around $360 billion — it’s now worth over $1 trillion. (RELATED: Apple Argues Its HQ Is Worth Only $200 To Reduce Tax Burden)
“I don’t really think about it,” Cook told Bloomberg in February when asked about the historical milestone. “I still view Apple as a pretty small company, the way that we operate.”
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