Apple CEO Tim Cook became richer by $57 Million in a jiffy when he sold shared given to him as the company’s market cap earlier this month exceeded $1 trillion for the first time.
Tim Cook earned $12.8 million last year — $3 million as base salary and a $9.3 million cash bonus, rising 46 per cent.
Cook’s net worth is estimated to be $625 million, ,the report said.
According to a US regulatory filling, Cook sold 2,65,000 Apple shares worth $121 million, Business Insider reported late on Wednesday.
Nearly $64 million of the share options were withheld for tax reasons and Cook took over $57 million.
THe stock awards were in addition to his salary and bonus scheme,
Cook earned $12.8 million last year, $3 million as base salary and a $9.3 million cash bonus 46 per cent.
Cook’s net worth is estimated to be $625 million, The report said.
Earlier this month, Apple became America’s first publicly traded company to hit the $ 1 trillion milestone.
Apple, maker of iPhone, iPad and other devices, said its fiscal 2018 third quarter revenue stood at $53.3 billion, up 17 per cent from the same period last year.
Reportedly introducing at least three new iPhone models in next month which may include a considerably larger version of the iPhone X a less expensive.