Apple CEO Tim Cook celebrated 10 years in office. At the same time, he sold three-quarters of a billion dollars worth of shares in the company.
The information was disclosed in regulatory filings, which showed that Cook sold over 5 million shares of Apple. As the head of the most valuable company in the world, Cook has received high bonuses in recent years. One of the incentives has been related to Apple's performance in the S&P 500 over the past three years. The company was one of the leaders in the index, bringing shareholders a return of almost 192% from August 2018 to 2021.
In the days leading up to the stock sale, Cook donated 70,000 Apple shares worth approximately $ 10 million to charity. Apple's CEO officially became a billionaire last year, and his fortune was estimated at $ 1.5 billion, according to the Bloomberg Billionaire Index.
Cook joined Apple in 1998 and has held a variety of leadership roles, including Chief Operating Officer and Executive Vice President of Worldwide Sales and Operations. He was named CEO in August 2011 after co-founder Steve Jobs stepped down. Jobs died a few weeks later from pancreatic cancer.
In 2014, Cook made history by becoming the first Fortune 500 CEO to declare himself gay. The following year, he promised to donate most of his fortune to charity.
As we previously reported, Cook wants to oversee the launch of yet another new product category for the Cupertino giant before deciding to retire.
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