A decade after taking over the post left by the late Steve Jobs, current Apple CEO Tim Cook is set to recieve around 5 million shares in the company – equating to approximately $US750 million ($1 billion).
The mega payout marks the 10th and final tranche of the pay deal he recieved 10 years ago, when he first took over the role.
According to Bloomberg, the payout was contingent on Apple’s share return surpassing at least two-thirds of companies in the S&P 500 (something that Apple has managed to do with ease).
And while $1 billion is a ridiculous amount for one person to recieve, Tim Cook’s tenure at Apple has seen the company go from success to success.
Since taking over in 2011, Apple’s shares have returned more than 1,100 per cent, while revenue has more than doubled.
The company also last year eclipsed $US2 trillion in value, with some now suggesting the $US3 trillion mark isn’t too far away.
He has also overseen the development of some of Apple’s most successful products, including the iPhone X, the Apple TV 4K, the iPad Pro, the Retina MacBook, and AirPods.
As for his personal fortune, Cook is on record as saying he plans to give away all of his wealth before he dies.
