Tim Cook richer by $57 million after Apple hits $1-trillion mark

By: |
Updated: August 30, 2018 10:24:42 AM

According to a US regulatory filing, Cook sold 2,65,000 Apple shares worth $121 million, Business Insider reported late on Wednesday.

Apple, Tim Cook, apple ceo, apple ceo tim cook, tim cook net worth, tim cook salary, markets, newsTim Cook richer by million after Apple hits -trillion mark

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.

Also read: Share Market Live! Sensex, Nifty open flat; Rupee plummets 23 paise to new record low

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

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Pink Bollworm attack: Maharashtra directs seed cos to pay Rs 210 crore to cotton farmers
2Maharashtra govt to lease out sick sugar units
3Petrol and diesel prices going up by almost a rupee per litre within a fortnight – Here is what government hopes