Tim Cook, Apple's CEO, has received more than five million shares in the company as he celebrates ten years on the job.

According to a company filing with the US Securities and Exchange Commission (SEC), he sold the majority of the shares for more than $750 million (£550 million).

It's part of a deal he made when he took over from Steve Jobs, the company's co-founder.

The prize was based on how well Apple's stock performed in comparison to other companies in the S&P 500 stock index.

Mr. Cook was eligible for the award, according to Apple's SEC filing, because the company's shares had increased by 191.83 percent in the previous three years.

It also stated that since he became CEO on August 24, 2011, Apple's stock price has increased by 1,200 percent.

The company that brought you the iPhone, iPad, and MacBook now has a market capitalization of nearly $2.5 billion.

Mr. Cook agreed to a new pay package last year that will last until the end of 2026.

Mr. Cook also donated almost $10 million worth of Apple stock to charity earlier this week, according to an SEC filing, without naming the recipient.

Mr. Cook announced in 2015 that he would give away his entire fortune before he died, and he is known to have given tens of millions of dollars to charity.

According to the Bloomberg Billionaire's Index, he has a net worth of around $1.5 billion.

Mr. Cook has frequently expressed his concerns about issues such as HIV/AIDS, climate change, human rights, and equality.

He follows in the footsteps of other ultra-wealthy Americans who have stated that they would give away all or a significant portion of their fortunes during their lifetimes.

Bill Gates, co-founder of Microsoft, and Warren Buffett, an investment veteran, launched the Giving Pledge in 2010, urging billionaires to give away at least half of their wealth.

Mr. Buffett donated another $4.1 billion worth of Berkshire Hathaway shares to charity earlier this year.

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