Apple CEO Tim Cook is set to take home a cool $AUD1.037 billion this week, as he is gifted 5 million company shares, as then final installment of the pay contract he struck with Apple upon succeeding Steve Jobs.

Cook is estimated to be worth just over $AUD2 billion at the moment, so this is a substantial payday for the CEO.

The deal apparently hinged on Apple stock outperforming “at least two-thirds of companies in the S&P 500 index over the past three years”, which Cook has certainly achieved.

Apple’s annual revenue has more than doubld since Cook took over the company in 2011, becoming the first US company in history to achieve a market value of over $2 trillion.