Tim Cook richer by $57 mn after Apple hits $1-trillion mark
Thursday - August 30, 2018 10:04 am ,
Category : BUSINESS
Tim Cook richer by $57 mn after Apple hits $1-trillion mark
San Francisco Aug 30 (IANS) Apple CEO Tim Cook became richer by over $57 million in a jiffy when he sold shares given to him as the company s market cap earlier this month exceeded $1 trillion for the first time.
According to a US regulatory filing 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 home 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 rising 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 the 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.
The company is reportedly introducing at least three new iPhone models next month which may include a considerably larger version of the iPhone X and a less expensive version.
--IANS na/anp
According to a US regulatory filing 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 home 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 rising 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 the 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.
The company is reportedly introducing at least three new iPhone models next month which may include a considerably larger version of the iPhone X and a less expensive version.
--IANS na/anp
