Apple CEO Tim Cook will receive this week the tenth and final installment of the agreement made to succeed Steve Jobs in the main command of Big Tech. According to information from Bloomberg News, the executive should receive 5 million shares of the company, which is equivalent to the value of US$ 750 million, or R$ 4 billion in direct conversion.
During Cook’s tenure over the past decade, the iPhone maker’s shares have risen more than 1,100%, boosting the company’s market to more than $2 trillion. The remarkable performance made the CEO even richer, as the deal’s remuneration is tied to the performance of the assets on the stock exchange.
With the annual payments, the executive became a billionaire, with a net worth of US$ 1.5 billion, according to the Bloomberg Billionaires Index. In 2015, Cook said he plans to give away most of his fortune and has already donated millions of dollars in Apple stock.
Tim Cook’s Story at Apple
Cook joined Apple in the late 1990s, after stints at Compaq and IBM, and became Apple’s chief operating officer and Jobs’ right-hand man. When he took over as co-founder of the company a decade ago, there were doubts about his ability to replace the famous executive and continue Apple’s successful trajectory.
However, under his supervision, the company saw its revenue more than double, with a strategy that included significant expansion into online services, major acquisitions, investment in chips and custom technologies, wearables like AirPods and Apple Watch, and major expansions in iPhone and iPad lines.
Despite its success, its management has faced some setbacks, such as the failed launch of its own Maps app in 2012, and criticism of App Store fees, which are generating lawsuits against the company worldwide.