Apple hits $ 1 trillian Mark, CEO Tim Cook Richer By $57 Million

Apple hits $ 1 trillian Mark, CEO Tim Cook Richer By $57 Million

Apple hits $ 1 trillian Mark, CEO Tim Cook Richer By $57 Million

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.

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