Apple President makes biggest share sale in 2 years

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Tim Cook earned US$41.5 million (around R$210 million) after trading 511 thousand company shares. Tim Cook, Apple’s chief executive, during the launch of the iPhone 15 Reuters/Loren Elliott Apple’s chief executive, Tim Cook, earned US$41.5 million (about R$210 million) from the sale of part of his company shares. It was the biggest trade he made with the company’s shares in two years, according to the United States Securities and Exchange Commission. The executive sold 511 thousand shares for US$87.8 million (R$450 million), an amount that later received tax discounts. Cook now has 3.3 million Apple shares, valued at US$565 million (R$2.9 billion). In 2021, Apple’s president received US$355 million (R$1.8 billion) from the sale of company shares. Tim Cook’s fortune is valued at US$1.9 billion (R$9.8 billion), according to Forbes. Despite heading Apple for 12 years, the executive has much lower assets than executives such as Elon Musk, Jeff Bezos and Mark Zuckerberg, above US$100 billion (R$515 billion) each. Apple shares have fallen 13% since July, when they reached a record value. According to Reuters, the drop is explained by investor concerns about a slow recovery in demand for new cell phones. Apple launched the iPhone 15 in September, which, in the United States, started to have higher entry prices compared to the previous generation. In Brazil, the new cell phone can cost up to R$13,999 in the most powerful version. READ ALSO: iPhone 14 has up to R$2,800 off; see how much each version comes out Challenges, reactions and dances: how the biggest influencers became famous Understand risks for the internet if Fortaleza creates a plant near submarine cables Apple announces the launch of the iPhone 15 and other news

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