Why did Apple decide to pay a $ 750 million prize to its boss Tim Cook?

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In 10 years as Apple’s CEO, Tim Cook has received more than five million shares of the tech giant.

According to the US Securities and Exchange Commission (SEC), charged with protecting investors and maintaining the integrity of the securities markets, Cook sold the majority of the shares for more than $ 750 million.

Everything does part of an agreement that Cook reached when he took over from co-founder Steve Jobs.

In the deal, the award depended on the performance of Apple’s stock compared to other companies on the S&P 500 stock index.

The SEC assures that the billionaire, whose fortune is around US $ 1.5 billion, is eligible for the award because the company’s shares are up 191.83% in the last three years.

In addition, he notes that Apple’s share price has increased 1,200% since Cook, who last year agreed to a new salary package until the end of 2026, became CEO on August 24, 2011.

The technology company behind the iPhone, iPad, and MacBook now has a market valuation of almost US$2.5 trillion.

An SEC report also showed that earlier this week the executive donated nearly $ 10 million in Apple stock to a charity, without revealing the recipient.

Six years ago, in a striking statement, Cook said he would donate his entire fortune before he died. So far it is known that he has donated tens of millions of dollars to humanitarian causes.

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