Tim Cook Donates Shares Worth US $ 43 Million

Tim Cook
Apple CEO Tim Cook has sold US $ 43 million worth of Apple shares, according to documents in the US Securities and Exchange Commission.

Cook sold as many as 268,623 limited shares (RSU). Some of these shares are performance-based in part the next time. Tim Cook sold the stake after he got 560 thousand RSUs on August 24th.

He sold more than half of the total at a price of about US $ 159 and US $ 161 for a total of US $ 43 million.

Tim Cook preferred that his shares be based on Apple's performance. One of the main indicators used is the Standard & Poor's 500 Index also known as S & P 500. S & P 500 is a stock market index based on the capitalization of 500 companies whose shares are listed on the NYSE or NASDAQ.

Last year Apple CEO salary was also cut after the company he led failed to achieve revenue and profit expected. Cook has said, he will give most of his wealth by doing philanthropic activities in a systematic way.

Tim Cook also mentioned he had started donating his money secretly. However, he plans to develop a systematic approach when doing philanthropic activities and not just giving money.

Also Read: