Tim Cook, Apple Inc.’s chief executive officer, will this week collect the 10th and final tranche of the pay deal he received a decade ago after he took over the top job from co-founder Steve Jobs.
The haul consists of about 5 million shares worth roughly $750 million, according to calculations by Bloomberg News. Part of the payout is contingent on Apple’s stock return over the past three years surpassing at least two-thirds of companies in the S&P 500 — a threshold the iPhone maker cleared by a wide margin.
Apple’s soaring stock price has allowed Cook, 60, to collect top payouts year after year and made him a billionaire. He currently has a net worth of about $1.5 billion, according to the Bloomberg Billionaires Index.