Uk news Topline
Apple CEO Tim Cook factual performed his very most attention-grabbing sale of his company’s stock in further than two years, per regulatory filings slack Tuesday, because the billionaire cashes in on his company’s waning $628 billion surge in valuation this year.
Uk news Key Info
Cook sold 241,000 shares Monday, per the Securities and Change Price filing, whereas one other 270,000 shares previously owned by Cook contain been withheld for tax functions.
That amounts to a fab $41.4 million coup for Cook after taxes.
It’s the very most attention-grabbing tranche of Apple shares offloaded by Cook since August 2021, when he disposed of $750 million of Apple sooner than taxes.
Despite the sale, Cook’s total stake in Apple stayed the very same over the final week after he became awarded the same different of shares as piece of his annual compensation equipment.
Fellow Apple executives Deirdre O’Brien and Katherine Adams sold $11 million apiece of their agency’s shares sooner than taxes, Apple reported in separate regulatory filings.
Uk news Key Background
The disposals from Cook and other insiders near after a rare bolt for Apple on the stock market. The corporate slid 9% right thru September’s broader downturn, by some distance its worst month of 2023. Apple remains by some distance the most treasured company on the planet with a $2.7 trillion market capitalization. That’s a $628 billion expand year-to-date, though it’s a $376 billion crawl from the corporate’s all-time high valuation of $3.1 trillion completed in July.
Uk news Forbes Valuation
Cook is price $1.9 billion, per Forbes’ most contemporary estimates. He owns 3,280,052 shares of Apple total stock, about .02% of all licensed shares, a stake price about $565 million.
Uk news Additional Reading
MORE FROM FORBESApple Slashes CEO Tim Cook’s Compensation By Over 40%-After Billionaire Requested Pay NickBy Nicholas Reimann