Apple CEO Tim Cook is set to collect 5 million shares worth roughly $750 million this week as 10th and final installment of the pay deal he received a decade ago after he took over the job from co-founder Steve Jobs, Fortune is reporting.
Part of Cook’s payout was contingent on Apple’s stock return over the past three years surpassing at least two-thirds of companies in the S&P 500, which the company cleared by a significant margin. According to the Bloomberg Billionaires Index, Cook currently has a net worth of about $1.5 billion.
On Tim Cook’s watch, Apple’s revenue has more than doubled and its shares returned more than 1,100%, pushing the market value above $2 trillion. The shares have risen about 12% this year.
Cook said back in 2015 that he plans to give most of his fortune away and has already donated millions of dollars worth of Apple shares.
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