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We all know the saying, "the rich keep getting richer," right? Well, for Apple CEO Tim Cook, that mantra works perfectly today, because the 56-year-old was just awarded an insane $89.2 million payout for reaching a key performance target — and, yep, I'm just a little bit jealous about hearing the news.
According to Fortune, Cook collected 560,000 shares when he took over the tech company in 2011 for Steve Jobs, with half of his shares linked to performance and the maximum allowed based off of the business' compensation program.
Over the past three years, Apple has outperformed more than two-thirds of the businesses in the S&P 500 Index, a collection of companies with whom they compete with, so Cook got the hefty sum — which will be paid in fixed amounts over a period of years.
Making this even more remarkable is the fact that this is Tim Cook's fourth consecutive payout at the top threshold, so, yeah, all those Apple products we're all buying sure seem to be helping the man calling all the shots.
Want some silver lining to make you feel not so jealous (if that's possible)? Cook won't receive every penny of the $89.2 million because of tax purposes, as Apple set aside around $46 million for tax requirements, with Cook selling off the other shares for a total of about $43 million.
Already one of the most influential people on the planet, no one knows what Tim Cook will do with the added cash — although, really, it's not as if he needs it. However, per the aforementioned Fortune article, Cook did say that he plans on giving most of his fortune to charity, per a 2015 interview.
With Apple's stock up nearly 40 percent so far this year, per Money.CNN — even reporting a record high for the fiscal third-quarter based off future iPhone sales projections — Tim Cook seems to be the luckiest man on the face of the planet right now.
Meanwhile, I'm just trying to scrounge up enough money to buy a slice of pizza at the $2 pop-up shop near my apartment. Life's not fair, guys.
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