Apple CEO Tim Cook has offloaded 511,000 shares of Apple stock, according to new regulatory filings. After taxes, Cook netted $41.5 million from the sale, which Reuters says is his “biggest share sale in two years.”
In total, the 511,000 shares were valued at $87.8 million, so the taxes and fees on the sale amounted to a cool $46.3 million. This left Cook with just over $41 million in cash after the sale. Even after this sale, Cook owns 3.3 million shares of Apple stock, currently valued at around $565 million.
This is Cook’s biggest sale since August 2021, when the Apple CEO offloaded around $355 million worth of AAPL shares. The move, according to the regulatory filing, was part of a pre-arranged Rule 10b5-1 trading plan adopted last November.
In the past, Cook has said that he will be giving away the majority of his fortune through a systematic approach to philanthropy. Cook is believed to be well into the “billionaire club” at this point in his career.
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