Tim Cook hits the jackpot! Apple chief to get $750 million on 10th anniversary as CEO

60-year-old Cook is already a billionaire and his net wealth stands at about $1.5 billion.

New Delhi: Apple CEO Tim Cook is all set to receive his final tranche of the pay deal signed ten years ago at the time of his appointment as the chief executive officer of the tech giant. 

As part of the deal, Cook will receive about five million shares of Apple Inc. If we go by Apple’s current stock prices, then Cook has hit a $750 million jackpot, according to a report by Bloomberg. 

At present, 60-year-old Cook is already a billionaire, thanks to the annual payouts that were a part of the deal. Bloomberg Billionaires Index suggests that his net worth currently stands at about $1.5 billion. 

Cook had replaced Apple co-founder Steve Jobs as the CEO of the tech firm in 2011. Since then, he has taken the firm to new heights. From becoming the most valuable firm by market size to topping the $2 trillion valuation mark, Apple has achieved so many feats under his leadership. 

However, at the time of his appointment, several industry experts had doubted the meteoric rise of Tim Cook at Apple and if he could match Jobs’ legacy that he left behind after his death in 2011 due to neuroendocrine cancer. 

But Cook has already proved his critics wrong, as he has been successful in more than doubling the company’s revenue in no time. Apple’s share has given a return of over 1,100% during his tenure as the CEO of the tech firm. Also Read: 'Aisi dikhti hai', New Royal Enfield Classic 350 variants leaked: In Pics

What will Tim Cook do with his wealth? 

Cook had said way back in 2015 that he intends to donate most of the fortune away. The top Apple executive has already donated millions of dollars worth of Apple stocks to charities, Bloomberg reported. Also Read: Senior Citizens Savings Scheme vs fixed deposits: Which investment scheme is best for senior citizens?