New post Thank you for 2021. Expecting a bigger you in 2022 Read More

News

Apple’s Tim Cook Crosses To The Billionaires’ Side

1 Mins read

According to Bloomberg’s Billionaires index, Tim Cook’s worth has crossed the billion dollar mark, making him a new entrant into the billionaires’ party.

59 year old Tim Cook became Apple’s CEO in 2011, a short while before Apple’s Co-founder – Steve Jobs died. Tim went ahead to take Apple from a $350 billion company to almost $2 trillion at the end of quarter 2 of 2020, beating Saudi Arabia’s state-owned oil company – Aramco – to become the most valuable company in the world.

Two years ago Apple Inc. became the first company to be valued at $1 trillion.

By this financial rating, Tim Cook has officially joined the list of billionaires. It is not a common thing to see someone that didn’t found a company becoming a billionaire, but Tim Cook has worked pretty hard to more than double Apple’s worth within 9 years of running the tech company, as the CEO.

According to Bloomberg’s analysis,

“He (Tim Cook) currently owns 847,969 shares directly, or about 0.02% of Apple shares, worth around $375 million. Proceeds from previous share sales, dividends and other compensation add another $650 million to his net worth. Apple stock rose 1.4% to $450.79 at 2:07 p.m. on Monday.”

The ninth payout from Cook’s equity awards should add another $100 million to Cook’s wealth.

Although, Tim Cook is valued to have crossed the billion dollar mark, he is still a long way from the billionaire status of other leaders in the giant tech business.

Billionaires like Jeff Bezos, Microsoft’s Bill Gates, Facebook’s Mark Zuckerberg, and Tesla’s Elon Musk, is estimated to be worth about $187 billion, $121 billion, $102 billion, and $68 billion, respectively.

Tim Cook’s wealth have been incremental since he joined Apple in 1998, and majority of his wealth comes from equity awards he received since joining the company.

In 2019, Tim Cook became the second most paid CEO, led only by Elon Musk – Tesla’s CEO.

Bloomberg added that Cook’s net worth could be “lower” if he has made undisclosed donations to charity.

407 posts

About author
When I'm not reading about tech, I'm writing about it, or thinking about the next weird food combinations to try. I do all these with my headphones plugged in, and a sticky note on my computer with the words: "The galaxy needs saving, Star Lord."
Articles
Related posts
News

#TwitterBan: Nigerian Government Lifts Twitter Ban

1 Mins read
Nigeria’s federal government has announced the lift on the ban placed on Twitter. The announcement was made by the Chairman Technical Committee…
AndroidNews

Gmail reaches 10 billion downloads on Play Store

1 Mins read
Google-owned email client, Gmail, has crossed a new milestone after it passes 10 billion downloads on Google Play Store. This feat makes…
News

Multichoice X Udemy to empower Africans.

1 Mins read
Africa’s leading entertainment provider, Multichoice, owners of DSTV and GoTv partners with Udemy, a global online learning platform in a bid to…
Get powered up with Techpadi Newsletter

Be the first to know what's happening in the African tech space

Leave a Reply