Tim Cook is set to rake in around $120 million in Apple stock this week, thanks to another year well done as Apple CEO.
Cook will receive a maximum of $560,000 shares on Friday. This is split into two separate awards: 280,000 shares for his continuing service as Apple’s chief executive, and another 280,000 on condition that Apple’s stock market return over the past three years exceeds two-thirds of the other stocks in the S&P 500.
Since Apple stock is currently outperforming 80 percent of companies in this index, Cook is virtually guaranteed his total payout — provided that Apple doesn’t somehow fall off a cliff in the next three days.
During his time as CEO, Tim Cook has increased Apple’s value from around $350 billion to an astonishing $1 trillion. Along the way, it became the world’s first $700 billion company, the first $800 billion company in history, and the first ever $900 billion company.
The really surprising bit to me about Cook’s earnings? No, it’s not that $120 million is a massive amount to be awarded in one day (although for much more than one day’s work.) Instead, it’s that Cook’s net worth is “only” $700 million. Compared to Amazon CEO Jeff Bezos’ $143.1 billion fortune that’s pretty amazing.