You can't buy groceries or pay rent with Apple shares. Once and a while, you need to liquify your assets to exchange for goods and/or services.
"Liquidate", not "liquify"... unless he was somehow melting paper stock certificates.
While you may be right in the dictionary sense, the term ‘liquefy’ is widely used in this context colloquially. For example, you hear it on CNBC all the time.
That wouldn’t be the first time CNBC was completely wrong.
Overpaid CEOs. Where is the liberal outrage? It's selective I suppose. Oh well. Tim should be able to make billions if he so chooses. That's 'merica.
Stop trying to make it partisan. I’m independent and agree that the pay gap between executive and worker has reached insanity, as it’s now 3-400x. No executive is that much more productive, but the boardrooms who sign these deals are all in on the game. It used to be 12x, which was plausible.
Overpaid CEOs. Where is the liberal outrage? It's selective I suppose. Oh well. Tim should be able to make billions if he so chooses. That's 'merica.
Stop trying to make it partisan. I’m independent and agree that the pay gap between executive and worker has reached insanity, as it’s now 3-400x. No executive is that much more productive, but the boardrooms who sign these deals are all in on the game. It used to be 12x, which was plausible.
You and I agree far more than you probably realize.
You can't buy groceries or pay rent with Apple shares. Once and a while, you need to liquify your assets to exchange for goods and/or services.
The more likely motivation for him selling his RSUs is portfolio diversification.
It's not like he was penniless before these transactions.
Cook has not exhibited any real interest in crass materialism like super-yachts or enormous mansions. He doesn't collect vintage cars nor attend glitzy galas. He shows very little interest in the arts, fashion, cuisine, etc. The Apple Board of Directors demands that he travel via private jet (on the company's dime), so it's not like he's going to buy a Learjet.
He doesn't buy professional sports teams like Steve Ballmer nor fund America's Cup yacht teams like Larry.
He's a bit of a health nut but how many t-shirts, shorts and pairs of socks does a guy need? He's into physical fitness but seems to have little interest in attending major events (sports, concerts, etc.) whether they be local (SF Bay Area) or abroad.
For a CEO of a Dow 30 company, Tim's expenses are comparatively paltry.
How do you know? Tim's private life outside of Apple is, of course, no one's business but it's also completely opaque as far as I know.
With social media, smartphones, mainstream media, etc. it's pretty obvious when someone is burning cash.
It's not like he lives in the middle of nowhere.
Even if he hid his big purchases behind a trust, he'd quickly be spotted disembarking off a super-yacht or driving some 1930s Bugatti.
Plus, that sort of materialism takes effort. Tim barely takes any vacation. He's always working. It's not like he's taking his 4-6 weeks of vacation off and partying with supermodels on such super-yacht at Cannes. He's not flying to the Netherlands to talk to some luxury shipbuilder.
He certainly cannot walk out of War Memorial Opera House, Oracle Arena or Levi's Stadium without someone recognizing who he is. He can't attend the Met Ball incognito. What does he do if he's attending Puccini's Tosca during intermission? Does he hide out in his box? Does he wear a wig and a fake beard?
What do you think would happen if he attended an Auburn football game?
If he donates money to a political candidate, his contribution is publicly disclosed. At least for Santa Clara County I believe there's a website that lists the contribution amount, name and street address of the donor. From the street address, you can plug that into the County Assessor's office's website and find out how much the owner is paying in property taxes on the parcel. With Proposition 13, it is pretty easy to guess what the purchase price was.
If he tries to dine at a 3 Michelin star restaurant, someone's probably going to post a comment on FaceBook, Instagram, Twitter, whatever: "Tim Cook is dining at the next table."
Me? I'm a nobody. My private life is pretty darned private because NO ONE CARES WHO I AM. Yeah, if I ended up on a super-yacht in Cannes partying with supermodels, I wouldn't be recognized. If I eat at a 3 Michelin star restaurant, nobody will tweet that I'm sitting there.
Tim is a Dow 30 CEO. People watch him, people recognize him.
People of his stature don't have magic shields of invisibility, no matter how rich they are.
He goes to Auburn football games, just not in the same seat you might sit in.
Overpaid CEOs. Where is the liberal outrage? It's selective I suppose. Oh well. Tim should be able to make billions if he so chooses. That's 'merica.
Stop trying to make it partisan. I’m independent and agree that the pay gap between executive and worker has reached insanity, as it’s now 3-400x. No executive is that much more productive, but the boardrooms who sign these deals are all in on the game. It used to be 12x, which was plausible.
Pay gap? What a CEO is paid is between them and the board of directors. There’s no such thing as a “pay gap”.
Overpaid CEOs. Where is the liberal outrage? It's selective I suppose. Oh well. Tim should be able to make billions if he so chooses. That's 'merica.
Stop trying to make it partisan. I’m independent and agree that the pay gap between executive and worker has reached insanity, as it’s now 3-400x. No executive is that much more productive, but the boardrooms who sign these deals are all in on the game. It used to be 12x, which was plausible.
Just curious. When was it only 12x in the US? I’ve been around a while and I have no recollection of it being that low in my lifetime.
You can't buy groceries or pay rent with Apple shares. Once and a while, you need to liquify your assets to exchange for goods and/or services.
I seriously hope that was sarcastic. Tim, we've run out of ketchup, will you grab some at the store? Sure thing, I'll just get some spending cash from my shares... $58m should be enough.
Overpaid CEOs. Where is the liberal outrage? It's selective I suppose. Oh well. Tim should be able to make billions if he so chooses. That's 'merica.
ROFL... Well, now we know where the outrage from the right wing crazies is... Or, is it terror and desperation as they see their glass house developing cracks?
Oh how soon we forget. All I heard back when Obama was campaigning was how CEOs were evil. "Big Oil" CEOs were evil. Remember the often coined term "corporate jets". CEOs were constantly being berated by a willing media and the ideology of the Left. It was wealth envy on steroids. But, if it's one of their own like Tim Cook then talk of CEO pay all of a sudden gets hush-hushed. Again....selective outrage. For me I could care less what a CEO makes. It makes zero difference to me as I can select who I can and cannot conduct commerce with. If they make millions good for them. They are the decision-makers. They are the ones who take the blows if the stock holders are taking hits. If you've not been around CEOs you have no idea what they do. I have and I see the difficulties with making the hard choices that effect people.
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https://www.cultofmac.com/140167/tim-cooks-2400-square-foot-home-in-palo-alto-keeps-him-rooted/