It's time for super bonuses at Apple. Tim Cook, Steve Jobs' successor at the helm of Apple, will receive 560 shares of the company tomorrow. At the current share price ($214,9), this means that the CEO is preparing to collect a $120 million bonus.
In reality, the reward is twofold. Cook earned half of the 560 shares just for remaining at the head of Apple and not switching to competitors. The other half, on the other hand, is linked to his professional merits: it is a production bonus to which the manager is entitled for exceeding financial objectives. After all, Apple has recently become the first company in the world with a market capitalization of more than $XNUMX trillion.
Cook's bonus figures are impressive, but come as no surprise. They were written into the compensation plan the manager signed with the company in 2013.
On closer inspection, it is not even surprising that the CEO has decided to donate 23.215 shares to charity to non-profit associations, equal to about 5 million dollars. Cook leads a sober lifestyle and in 2015 he said in an interview that he wants to give away his wealth using a "systematic approach". What this means is still unclear. At the moment, the only certainty is that Jobs' heir will be able to deduct those 5 million from taxes.
Cook, who has headed Apple since 2011, holds 878 shares of the company, worth nearly $190 million. He has been receiving maxi bonuses for seven years and will continue to collect them until 2021, when he will be able to decide whether to leave or stay at Apple. To earn another river of dollars.
