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Apple CEO Tim Cook has received the tenth and final payment from the company, and the total payment consists of around 5 million shares worth around $ 750 million.
Cook received the 10 payments based on an agreement made in the contract ten years ago and this clause is conditional on the performance of the company’s shares, as the company must outperform at least two-thirds of the S&P companies. 500.
Cook’s payments made him a billionaire with a net worth of around $ 1.5 billion, according to the Bloomberg Index.
Last Wednesday, Tim Cook completed his tenth year as CEO of Apple, after Steve Jobs stepped down on August 24, 2011, before passing away six weeks later. And there is no doubt that the challenges that awaited Tim Cook were truly enormous.
Cook found a replacement for Jobs, who was admired by all as a smart and innovative person, as well as one of the most prominent technical figures of all time. Now, a decade later, it looks like Tim Cook has succeeded in succeeding Jobs.
What may have helped him in this is that Apple had established itself in the market many years before he became CEO. But it has made it the most valuable and profitable company in the world, surpassing even the oil companies, and Apple is currently valued at $ 2.5 trillion.
During his tenure as Director of the Company, Tim Cook has been able to significantly improve the functioning of supply chains. By contracting with Chinese factories, Fox Conn, which employs hundreds of thousands of workers just for Apple’s production lines.
The company has also been able to maintain an increasing rate of growth during these years, in addition to Tim Cook playing an active role in the company before even taking the management, since he held the position of Chief Operating Officer. , who is the second most important post after CEO.
It is known that one of the main differences between Cook and Jobs is that the former mainly focused on sales and profits, while Jobs focused on creativity, innovation and artistry, and not not as concerned with production and profits as his successor.
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