Apple CEO Tim Cook sells shares worth $88 million (Rs 740 cr) as firm’s valuation declines to $628 billion

Apple’s CEO, Tim Cook, has sold a substantial portion of his Apple shares, marking his most extensive sale in the last two years. Regulatory filings reveal that Cook parted with 511,000 shares, ultimately profiting $41.5 million after taxes. This decision coincides with Cook’s strategic move to leverage Apple’s declining valuation, which has seen a substantial drop of $628 billion this year.

The sale took place over two consecutive days, with Cook selling 270,000 shares on Friday and an additional 241,000 shares on Monday. According to the Securities and Exchange Commission’s filing, the total proceeds from this sale amounted to $88 million. Post-tax deductions, Cook received approximately $41.5 million. This sale of Apple shares is the most substantial one since August 2021, when Cook sold $750 million worth of Apple shares before tax obligations.