Tim Cook is about to receive a $750 million payday
(iMore iPhone)

What you need to know Tim Cook is set to receive the last stock payout from his original agreement upon taking over as CEO. According to Bloomberg, the payout is worth approximately $750 million. Tim Cook is set to increase his net worth by a lot. Apple CEO Tim Cook is set to receive a $750 million payday. As reported by Bloomberg, Cook is set to collect his last tranche of the contract he agreed to with Apple when he took over the CEO position from Steve Jobs ten years ago. The haul consists of about 5 million shares worth roughly $750 million, according to calculations by Bloomberg News. Part of the payout is contingent on Apple`s stock return over the past three years surpassing at least two-thirds of companies in the S&P 500 -- a threshold the iPhone maker cleared by a wide margin. According to the report, Apple`s continued stock value growth and the subsequent stock rewards that Cook has received have made the Apple CEO a billionaire with an estimated net worth o...