Sagelike Tim Cook Dreams Of Seeing Money Die


"I'm hoping to be alive to see the elimination of money", he reportedly told those gathered at Apple Park.

"Special dividends, I'm not really a fan of", Mr Cook said. But Apples board of directors and management are "committed" to increasing their annual dividend payment to shareholders, he added.

Sure, Cook's estimated net worth is around $666 million, but, as he explained while waxing philosophic during Apple's annual shareholder meeting on February 13, that doesn't mean he likes the stuff in its current form. He's also taken on a more public profile in recent years by managing the Apple Watch's development and announcing new health features at press conferences.

Spotify, the music streaming pioneer that Apple is trying to upstage, has more than 70 million subscribers. The device is being touted as a high-fidelity speaker that can also serve as a digital disc jockey that learns listeners' tastes so it can automatically play songs that they will like from Apple's vast music-streaming library.

Apple Inc Chief Executive Tim Cook downplayed a suggestion that the company might issue a special dividend to shareholders with some of the $285 billion in cash that the company is now able to bring back from overseas.

The sweeping tax reforms passed by Congress in late December included a provision lowering the rate on companies' overseas cash to 15.5 percent, below the 21 percent paid on profit made in the U.S.

The tech firm has never revealed the exact number of users Apple Pay has or how much revenue it brings in.

At the time, Cook wasn't expressing a belief in the transience of all material things, but addressing the company's mobile payment solution, Apple Pay, which has "an extraordinary future ahead of it", according to Cook.

"This was so bad for America", he said.

The annual meeting was the first one held at Apple's new Cupertino, California, campus, which some people have nicknamed the "spaceship" due to new $5 billion building's circular shape.