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.