What you need to know
- Apple CEO Tim Cook just sold 265,000 shares of Apple stock.
- The shares were worth around $131.7 million.
- Another 294,840 shares were withheld by the company for tax purposes.
Tim Cook just netted over a hundred million dollars in stock sales.
Reported by MacRumors, Apple's CEO sold stock that, according to the company's stock price at the time, earned Cook around $131.7 million. The CEO was just awarded 560,000 shares of Apple stock as a bonus for the company's performance.
According to the report, the CEO has another 700,000 shares of Apple stock that will vest next year. Cook still currently holds over 800,000 shares of stock worth around $418 million.
Tim Cook is now worth over $1 billion as Apple itself became the first U.S. company to hit a $2 trillion market cap.
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Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.