Apple CEO Tim Cook has observed a raise of $57 million in an instant when he sold his shares at the time when company’s market cap in the starting of the month reached to $1 trillion for the first time. The US regulatory filing said that Tim Cook sold 265,000 shares of Apple which were worth $121 million. Out of that $64 million worth of shares were deducted in tax and Cook received only $57 million to take away.
The stock awards were extra reward, apart from his salary and bonus scheme. In 2017, Tim earned $12.8 million -$3 million is his base salary and $9.3 million was his cash bonus. That is a raise of 46 percent.
Tim Cook’s net worth has become $625 million. In starting of August, Apple became first publicly-traded company to be worth $1 trillion.
The maker of iPhone, iPad, and other devices said its fiscal 2018 third quarter revenue was $53.3 billion. Comparing it to the same period last year, that is an increase of 17 percent. According to some reports, the company is going to introduce three new models of iPhone next month. One of which may be the larger version of iPhone X and a budget version of iPhone X.