Apple CEO Reportedly Paid $60 Million from His Own Pocket in Legal Spat with Proview

The $60 million (€48.8 Million) compensation paid by Apple to Proview Technology in the iPad trademark lawsuit is almost the same amount in dividends Tim Cook turned down earlier this year, people familiar with the lawsuit said.

Citing a Chinese-language story on IT Times, ZD Net reports that both Proview Technology’s CEO and the company’s legal advisor believe Apple CEO Tim Cook took $60 million from his own pocket to pay for Proview’s damages in a sign of good will.

Yang Rongshan, Proview’s founder and chairman reportedly said that people around him with connections to the suit realized the amount in dividents Cook had earlier refused from his company's stock program was “very close with the compensation Apple would pay for Proview.”

Serving in the legal department for Proview's Taiwan division, Ray Mai thought the same. He even gave a solid reason for it: “Since Steve Jobs was gone, Cook should take up the responsibility,” said Mai.