Apple chief executive Tim Cook collects $750 million in final payout

Apple Chief Executive Tim Cook has received more than five million shares, worth roughly $750 million, in the technology giant, as he marks 10 years in the job. This is the tenth and final tranche of the pay deal he received a decade ago. 
 

The award depended on how well Apple's shares performed compared to other firms on the S&P 500 stock index. According to Apple's filing with the US Securities and Exchange Commission, Cook was eligible for the award as the company's shares had risen by 191.83 per cent over the last three years.
 

It also noted that Apple's share price has increased 1,200 per cent since he became chief executive on August 24, 2011, pushing the company’s market value above $2 trillion. 
 

The performance of the company has made the 60-year-old CEO a billionaire, with a net worth of $1.5 billion.
 

Before the final payout, Cook received major chunks of shares, once in 2014 and then again in 2016. In total, Tim now owns 8,37,374 shares of Apple Stock.