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Tim Cook Richer by $57 Million

Tim Cook Richer by $57 Million

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  31 Aug 2018 7:45 AM GMT

SAN FRANCISCO: 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. (IANS)

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