- Apple’s Tim Cook has earned $700 million since taking the reins as CEO.
- If you had invested years ago when Cook became CEO, you could have nearly quadrupled your money.
- Apple’s history of success seems likely to continue with a new iPhone event announced for Sept. 12, 2018.
Apple CEO Tim Cook is doing something right because Apple had another strong growth period under his leadership — it became the first U.S. company with a $1 trillion market cap in August 2018. Stockholders aren’t the only ones reaping benefits: He received 560,000 AAPL shares worth $125 million on Aug. 24, 2018.
Cook sold 265,160 worth of those shares, netting approximately $57.8 million, and Apple used the remaining 294,840 shares — worth approximately $63 million — for tax purposes. But Cook still owns more than 800,000 shares of Apple that are worth more than $195 million.
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How Tim Cook Earned $700 Million in His First 7 Years as CEO
Cook’s performance bonus was part of a huge stock award that dates back to when he took over as Apple’s CEO in 2011. For each year that Apple outperforms two-thirds of the S&P 500 index, Cook gets a portion of Apple stocks that were restricted — and he is free to sell or hold them. Cook’s stock award isn’t even part of his salary, which in 2017 was in excess of $3 million.
Cook has earned at least $700 million since he became Apple’s CEO. Most of that was in the form of stock, according to Business Insider, but his compensation added to the figure as well. That total also includes the 7 million shares he got when he took the job — and that stock from 2011 has nearly quadrupled in value today.
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In addition, Cook receives income from his role on Nike’s board of directors — and he likely has other investments. Cook reportedly gave away almost $5 million worth of stock to an unnamed charity in mid-August, and he claims he plans to give away nearly all of his money while he’s still alive, according to 9to5Mac.com.
Here’s How Much You Could Earn Investing in Apple Stock
Apple’s stock has almost quadrupled since 2011 — in December 2011, it was $51.2 — climbing above $207.04 per share on Aug. 2, 2018. If you had invested $1,000 in Apple stock on Aug. 24, 2011, your stock would be worth almost $3,700 today.
Why has Apple’s stock soared so high? The only new product Cook has launched is the Apple Watch, and it hasn’t been as successful as iPhone or iPod. Cook also has significantly boosted Apple’s research and development, focusing on new growth areas such as augmented reality, chips and autonomous systems. But his and the company’s biggest gains have come from turning the company’s flagship product — the iPhone — into history’s most successful tech product, and there is no sign of sales slowing down. Apple announced it will host its new iPhone event Sept. 12, 2018.
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