What you need to know
- Apple CEO Tim Cook is now worth over $1 billion.
- The calculation was done by the Bloomberg Billionaires Index.
- Cook's worth is made up mostly from equity awards while leading Apple.
Tim Cook is now worth over a billion dollars.
Reported by Bloomberg, Apple's share price rose about 5% last week, which has gotten the company extremely close to the record market value of $2 trillion and also thrust its CEO Tim Cook into the billionaire world.
Whereas other CEOs like Mark Zuckerberg of Facebook and Jeff Bezos of Amazon have achieved their wealth in owning huge shares of their companies, Cook grew his wealth through periodic equity awards from leading Apple to new heights.
Bloomberg calculated Cook's net worth based off of the current number of shares that the CEO owns of Apple stock as well as the value of previous sales of stock, dividends, and other compensation.
Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.
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